Sources: Stephenson signs $27M deal with Hornets

Indiana Pacers guard Lance Stephenson (1) pauses during the second half of Game 3 in the NBA basketball Eastern Conference finals playoff series against the Miami Heat, Saturday, May 24, 2014, in Miami. The Heat defeated the Pacers 99-87. (AP Photo/Lynne Sladky)
Indiana Pacers guard Lance Stephenson (1) pauses during the second half of Game 3 in the NBA basketball Eastern Conference finals playoff series against the Miami Heat, Saturday, May 24, 2014, in Miami. The Heat defeated the Pacers 99-87. (AP Photo/Lynne Sladky)

CHARLOTTE (WISH) — Lance Stephenson has signed a three-year, $27 million deal with the Charlotte Hornets, sources tell ESPN.

ESPN reports the deal was signed early Wednesday morning. Stephenson met with his representatives, Hornets owner Michael Jordan, and others Tuesday night in Las Vegas.

The Indiana Pacers had offered Stephenson a five-year, $44 million contract at the beginning of July, but Stephenson felt he was worth more, sources told ESPN.

Over the past few weeks, the Pacers said they wanted Stephenson to return to the team. President of basketball operations Larry Bird said offering more than $44 million was not possible.

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