Lance Stephenson made his decision to join the Charlotte Hornets official Friday afternoon when he signed his three-year, $27.4 million deal at team headquarters.
It’s a huge relief for Stephenson to have free agency behind him. He admitted during his 15-minute introductory press conference that it was “very stressful.”
With his dad, Lance, and mom, Bernadette, proudly watching from the first row, Stephenson talked about his new chapter.
“I just want to thank the Hornets for picking me up and I’m very excited,” he said. “It’s like a new beginning for me.”
The Pacers, who drafted him 40th overall in the 2010 draft, offered him $44 million over five years, which allowed Lance to get paid and the team to account for the risk – and work out their short-term financial situation while keeping their most electrifying player.
Stephenson opted for a shorter deal, and thus is betting on himself. Instead of $44 guaranteed, he’s only getting $18 from the Hornets – a difference of $26. It’s a high risk, high reward decision that Lance made with his agent and family.
“It was definitely a tough decision,” Stephenson said of leaving the Pacers. “I definitely grew up there and I learned a lot from Larry (Bird) and my teammates that was in front of me. It was great experience and I feel like I can bring a winning experience and that defensive edge that we had over there, I’ll bring it to the Hornets.”
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(Lance Stephenson put his pen to paper on Friday in Charlotte. Photo via @Hornets)
As for the Hornets, it’s a big deal. They got Stephenson for $9 million a year for each of his first two seasons, and then have a team option in year three. If he continues to elevate his game as he has done over the last two years, it’s a steal and they’ll pay him $9.4 million in 2016-17. If his antics get the best of him or he has problems on or off the court, they can easily separate ties.
Stephenson said Hornets owner Michael Jordan played a big role in recruiting him. Jordan attended the meeting Tuesday night in Las Vegas with Lance and other Hornets officials, and told Lance that he liked his game.
“He loves my game,” Stephenson said of MJ. “He loves what I bring to the table. He loves I’m a great passer, I play with my team and he loves winning and the competitive edge that I have. I’m definitely going to bring that to the table.”
Last season, Stephenson led the Pacers in rebounds and assists, tallied a league-high five triple-doubles (he felt like he could’ve gotten 11 and is shooting for 15 next season), finished second in voting for the NBA’s Most Improved Player award, and just missed out on being named an All-Star.
“Lance is one of the best young players in the league,” said Hornets GM Rich Cho. “One of the things that really attracted us to Lance is that he’s a big time competitor.
“He’s going to be a big part of the team. He’s got a very unique skill set, he can handle the ball, he can pass, he can score, he can rebound, and he can really guard. The other thing is he’s got a ton of playoff experience playing in the Eastern Conference Finals the last two years.”
“One of the primary goals was to improve our scoring, our defense, and our playmaking ability — and we really feel like Lance fulfills all those.”
It’s unclear how much of a late push the Pacers made. President Larry Bird said going into free agency that he planned to make “a very, very fair” offer, and then held strong.
“I feel like the Hornets had my best interests and I’m just happy to be here,” said Stephenson, who oddly didn’t smile or get hyped during the biggest moment (so far) of his professional career. “I feel comfortable here. And when you feel comfortable, you tend to play better on the floor. I can’t wait.”
Stephenson choosing to go elsewhere now leaves a gaping hole in the Pacers’ starting lineup and at shooting guard. With no cap flexibility, all moves for Bird and the four headed-monster (Bird, Kevin Pritchard, Donnie Walsh, and Peter Dinwiddie) must be made via trade.