Lance Stephenson received a lot of attention during the 2014 NBA playoffs by trying to get into the head of LeBron James. The Pacers shooting guard is bound to stir more controversies as a new member of the Charlotte Hornets.
Stephenson moved out of the Indiana Pacers and recently signed a deal for three years, valued $27 million, with the Hornets. He met with Michael Jordan, owner of the team as well as other executives on July 15, 2014 in Las Vegas to discuss the terms of the contract before signing. He also got a team option for the third year. In a report by Yahoo! Sports, Stephenson will officially be introduced by the Hornets at a press conference on July 18, 2014.
The Pacers did their best to retain Stephenson by offering a contract for five years, worth $44 million but the guard declined. With such a contract, he would have received about $8.8 per year until the 2018-2019 NBA season. Stephenson, however, said that it was a "low-ball offer". His contract with the Hornets actually only pays an additional $200,000 per year but the total value is significantly less than Indiana's offer. Stephenson actually declined $17 million in guaranteed money by leaving the Pacers.
Other experts speculate that a shorter contract would be more beneficial for Stephenson, who is only turning 26 years old in 2014, another Yahoo! Sports article writes. The salary cap is expected to rise due to the NBA's new TV rights transactions, worth billions. This means that Stephenson can ask for more at the end of his three-year contract.
Alberto Ebanks, Stephenson's agent stated, "While we tried our best to come to the best possible terms for both sides, there was not sufficient flexibility in the terms of the contract, particularly the length of the contract. Lance will miss the city, the team and the mentor who helped transform him into the dynamic player he has become. He looks forward to making a strong contribution and beginning a new chapter with the Charlotte Hornets." He added, "Lance is forever grateful for the all the love he's received from Pacers fans. He is especially grateful to his teammates, Frank Vogel, Herb Simon, the Pacers management and most of all, Larry Bird."
Stephenson shared the news on Twitter, "Indy, I had a great 4 years. Thank you Larry Bird, the fans, my coaches and teammates for the incredible experience. I will never forget any of you! I now have to look to the next phase of my career and the wonderful opportunity to continue to grow as a player and as a person in Charlotte! I'm excited to play for this franchise and the fans!! #buzzcity."