(THE SPORTS XCHANGE) - Free agent point guard Jrue Holiday decided to stay with the New Orleans Pelicans, agreeing to a five-year US$126 million (S$173 million) deal.
Holiday's agent, Jason Glushon, confirmed the decision to ESPN.
The deal includes incentive clauses that could push the contract's value to US$150 million and contains a player option for the fifth year, Glushon told ESPN.
J.J. Redick is joining the Philadelphia 76ers on a one-year deal worth US$23 million, according to a published report.
Adrian Wojnarowski of ESPN first reported the deal and Redick, 33, confirmed the signing on his Twitter account, writing "Trust the process" - a reference to the 76ers' rebuilding slogan.
The veteran sharpshooter was enticed by the prospect of playing with Philadelphia's young talent and in Sixers coach Brett Brown's system.
The Houston Rockets were forced to pull back an accepted four-year US$15 million deal to free agent centre Nene due to the National Basketball Association's (NBA) age rule.
Nene, who turns 35 in September before next season starts, is "back at square one" in free agency, a source told ESPN's Marc J. Spears.
The "over-38 rule" in the collective bargaining agreement would have extended Nene's deal past his 38th birthday in the fourth season.
The Cleveland Cavaliers are discussing a deal to send guard Iman Shumpert to the Houston Rockets.
Shumpert would be moved to the Rockets for primarily a package of non-guaranteed contracts, ESPN's Adrian Wojnarowski reported.
The trade would allow Cleveland to create financial flexibility to pursue other roster upgrades.
Shumpert, 27, has two years and US$21.3 million left on his contract, with his second year being a player option he has refused to waive in Cleveland's trade discussions with other teams.
The Boston Celtics signed three players, including their top pick in last month's NBA draft.
Jayson Tatum, the No. 3 overall selection out of Duke University, and 2016 first-rounder Ante Zizic each signed contracts, the team announced.
Boston also reached an agreement on a two-year deal with German forward Daniel Theis, according to a report by ESPN's Adrian Wojnarowski.
The Memphis Grizzlies signed swingman Wayne Selden Jr and guard Kobi Simmons, the team announced.
Selden averaged 5.1 points in 14 games between the New Orleans Pelicans and the Grizzlies last season - his first in the NBA.
He was signed by the Grizzlies in March after his 10-day contract with the Pelicans expired.
A former standout at Kansas, Selden started two of Memphis' six post-season games, averaging 3.8 points.
He averaged 18.5 points in 35 games with Iowa Wolves of the NBA D-League.
Simmons was not selected in last month's NBA draft.
A former McDonald's All-American, Simmons averaged 8.7 points, 1.6 rebounds and 2.0 assists last season as a freshman at the University of Arizona.
The Orlando Magic signed rookie forward Jonathan Isaac, the team announced.
Terms of the deal were not disclosed for Isaac, Orlando's first-round pick and the No. 6 overall selection in the NBA draft.
The Detroit Pistons signed rookie guard Luke Kennard.
Terms of the deal were not disclosed for Kennard, the No. 12 overall selection in last month's NBA draft.
Kennard averaged a team-leading 19.5 points to go along with 5.1 rebounds and 2.5 assists as a sophomore last season at Duke University.
Elsewhere, the Atlanta Hawks signed rookie forward John Collins, the team announced.