Gay, Spurs reportedly agree to two-year deal

Free agent forward Rudy Gay and the San Antonio Spurs agreed to a two-year, $17.2 million deal on Thursday, according to an ESPN report.

The second year reportedly is a player option.

Gay posted a picture of a Spurs jersey on his Instragram account.

The 31-year-old Gay, an 11-year NBA veteran, averaged 18.7 points and 6.3 rebounds in 30 games with the Sacramento Kings last season before sustaining a season-ending complete tear of his left Achilles tendon on Jan. 18 against the Indiana Pacers.

Gay opted out of the final year of his contract with the Kings before the June 10 deadline, allowing him to become a free agent.

Gay was the eighth overall pick in the 2006 draft by the Houston Rockets. He played for the Memphis Grizzlies and Toronto Raptors before joining the Kings in 2014-15.

In 753 career games (714 starts), Gay has averages of 18.4 points, 5.9 rebounds and 2.3 assists.

Heat sign C Olynyk

Free agent center Kelly Olynyk reached agreement with the Miami Heat on a four-year, $50 million deal, ESPN reported Thursday.

The fourth year includes a player option.

Olynyk played for the Boston Celtics the past four seasons, and averaged 9.0 points and 4.8 rebounds per game this past season.

The Celtics were forced to give up their rights to him earlier this week to make salary-cap room after landing Gordon Hayward.

The Brooklyn Nets, Utah Jazz, Sacramento Kings and Indiana Pacers were the other teams that showed interest in the 7-foot Canadian.

Rockets officially sign C Nene, F Tucker

The Houston Rockets signed free agent forward P.J. Tucker and re-signed center Nene, the team announced Thursday.

Both deals had been reported a few days ago, but the Rockets made them official.

Nene agreed to a new three-year, $11 million contract, according to ESPN. Their original four-year contract agreement was nullified Saturday based on the NBA's over-38 rule that limits long-term deals.

In his first season as a Rocket, Nene appeared in 67 games with eight starts, while averaging 9.1 points and 4.2 rebounds in 17.9 minutes per game. Dating back to 1979-80, he was one of three players with at least 40 games played to have averaged at least 9.0 points and 4.0 rebounds in fewer than 18.0 minutes per game in a single season.

"Nene was a big part of our success last season, especially in the playoffs," said Rockets general manager Daryl Morey. "He is a true professional and we are fortunate to have him remain a Rocket."

Nene has the seventh-highest field goal percentage (54.8) among active players and would have ranked fifth in the NBA in 2016-17 had he qualified (61.7). During the playoffs, he shot 70.6 percent.

"The Rockets bring out the best in me," said Nene. "I love the entire organization from my teammates and coaches, to management and ownership. We have great leader in James Harden and will continue to work hard to bring another championship to Houston."

Terms of Tucker's deal were not disclosed, but multiple reports indicated it is a four-year, $32 million deal.

Tucker met with the Toronto Raptors once free agency started, but he talked to members of the Rockets, including All-Star guard James Harden.

The Raptors reportedly offered three years and $33 million.

New Rockets point guard Chris Paul also helped recruit Tucker to Houston, according to ESPN. The two players have been close since growing up in North Carolina.

Tucker averaged 6.7 points, 5.8 rebounds 1.4 steals in 81 games for the Suns and Raptors last season.

NBA notebook: Nowitzki close to two-year deal with Mavericks

The Dallas Mavericks are in the process of finalizing a two-year, $10 million deal with Dirk Nowitzki, ESPN reported Thursday.

The Mavericks declined Nowitzki's $25 million team option on his existing contract, but there was never a doubt that the Mavs would re-sign Nowitzki, considered the greatest player in the team's history.

Dallas reportedly plans to re-sign restricted free-agent Nerlens Noel, and the team's moves suggest the Mavericks may not be pursuing any high-salary free agents.

The 39-year-old Nowitzki, who was the NBA MVP in 2007, played in 54 games last season, all as a starter, and averaged 14.2 points, his lowest since his rookie season in 1998-99.

--The Los Angeles Clippers have reached agreement with Serbian guard Milos Teodosic on to a two-year, $12.3 million deal, ESPN.com reported.

The flamboyant 30-year-old Teodosic is considered a creative playmaker. He had to pay an expensive contract buyout with CSKA Russia to move to the NBA this season.

Teodosic was named to the all-EuroLeague first-team three times and was the EuroLeague MVP in 2010. Teodosic averaged 16.3 points and 6.5 assists while shooting 54.2 percent from the field and 38.6 percent on 3-pointers while playing for Moscow last season.

--The Memphis Grizzlies showed their appreciation to Zach Randolph by announcing that the veteran forward/center will be the first player in franchise history to have his No. 50 jersey retired.

The Grizzlies announced the move in an open letter to Randolph, two days removed from the two-time All-Star ending his eight-year tenure with the club by agreeing to a two-year, $24 million deal with the Sacramento Kings.

Randolph ranks first in franchise history in rebounds (5,612) and is second behind Mike Conley in points (9,261). The 35-year-old excelled in a reserve role last season, averaging 14.1 points and 8.2 rebounds.

--The Houston Rockets signed free agent forward P.J. Tucker and re-signed center Nene.

In his first season as a Rocket, Nene appeared in 67 games with eight starts, while averaging 9.1 points and 4.2 rebounds in 17.9 minutes per game.

Tucker averaged 6.7 points, 5.8 rebounds 1.4 steals in 81 games for the Suns and Raptors last season.

--The Detroit Pistons signed free agent guard Langston Galloway.

Terms of the deal were not disclosed by the club for Galloway, but ESPN reported the contract was for three years and $21 million.

Galloway averaged 7.9 points, 2.1 rebounds and 1.3 assists in 74 games last season with the New Orleans Pelicans and Sacramento Kings.

--The Chicago Bulls re-signed forward-center Cristiano Felicio.

The move had been reported several days ago, but the team has now made it official. Terms of the agreement were not disclosed, but multiple media outlets reported the deal is for four years and worth $32 million.

In his two seasons in Chicago, Felicio averaged 4.3 points and 4.3 rebounds in 14.0 minutes per game while shooting 57.3 percent from the field. Last season, he averaged 4.8 points and 4.7 rebounds in 15.8 minutes per game with a field goal percentage of 57.9.

--The Denver Nuggets signed rookie forward Tyler Lydon to a multi-year contract.

Denver selected Lydon with the 24th overall pick after trading down in the first round of last month's draft. The 21-year-old Lydon joined third-year forward Trey Lyles in the draft-night trade with the Utah Jazz for the rights to the 13th overall pick, which was Donovan Mitchell.

Lydon averaged 11.6 points, 7.4 rebounds, 1.6 assists and 1.6 blocks in 71 career games with the Orange.

Rockets officially sign C Nene, F Tucker

The Houston Rockets signed free agent forward P.J. Tucker and re-signed center Nene, the team announced Thursday.

Both deals had been reported a few days ago, but the Rockets made them official.

Nene agreed to a new three-year, $11 million contract, according to ESPN. Their original four-year contract agreement was nullified Saturday based on the NBA's over-38 rule that limits long-term deals.

In his first season as a Rocket, Nene appeared in 67 games with eight starts, while averaging 9.1 points and 4.2 rebounds in 17.9 minutes per game. Dating back to 1979-80, he was one of three players with at least 40 games played to have averaged at least 9.0 points and 4.0 rebounds in fewer than 18.0 minutes per game in a single season.

"Nene was a big part of our success last season, especially in the playoffs," said Rockets general manager Daryl Morey. "He is a true professional and we are fortunate to have him remain a Rocket."

Nene has the seventh-highest field goal percentage (54.8) among active players and would have ranked fifth in the NBA in 2016-17 had he qualified (61.7). During the playoffs, he shot 70.6 percent.

"The Rockets bring out the best in me," said Nene. "I love the entire organization from my teammates and coaches, to management and ownership. We have great leader in James Harden and will continue to work hard to bring another championship to Houston."

Terms of Tucker's deal were not disclosed, but multiple reports indicated it is a four-year, $32 million deal.

Tucker met with the Toronto Raptors once free agency started, but he talked to members of the Rockets, including All-Star guard James Harden.

The Raptors reportedly offered three years and $33 million.

New Rockets point guard Chris Paul also helped recruit Tucker to Houston, according to ESPN. The two players have been close since growing up in North Carolina.

Tucker averaged 6.7 points, 5.8 rebounds 1.4 steals in 81 games for the Suns and Raptors last season.

Clippers on verge of adding Serbian PG Teodosic

The Los Angeles Clippers have reached agreement with Serbian guard Milos Teodosic on to a two-year, $12.3 million deal, ESPN.com reported Thursday.

The flamboyant 30-year-old Teodosic is considered a creative playmaker.

He had to pay an expensive contract buyout with CSKA Russia to move to the NBA this season. It suggests the Clippers have big plans for the 6-foot-5 Teodosic, who will try to fill the void left by the departure of Chris Paul to the Houston Rockets.

Teodosic was named to the all-EuroLeague first-team three times and was the EuroLeague MVP in 2010.

Teodosic averaged 16.3 points and 6.5 assists while shooting 54.2 percent from the field and 38.6 percent on 3-pointers while playing for Moscow last season.

Teodosic gained exposure when he faced Team USA at the 2016 Rio Olympics and the finals of the 2014 FIBA World Cup.

"As good a player, as good a guard, as there is in Europe," Team USA coach Mike Krzyzewski said of Teodosic, according to ESPN.

F-C Felicio re-signs with Bulls

The Chicago Bulls re-signed forward-center Cristiano Felicio, the team announced Thursday.

The move had been reported several days ago, but the team has now made it official.

Terms of the agreement were not disclosed, but multiple media outlets reported the deal is for four years and worth $32 million.

In his two seasons in Chicago, Felicio averaged 4.3 points and 4.3 rebounds in 14.0 minutes per game while shooting 57.3 percent from the field.

Last season, he averaged 4.8 points and 4.7 rebounds in 15.8 minutes per game with a field goal percentage of .57.9.

The Brazilian played in all six of the Bulls' postseason games against the Celtics, and averaged 3.2 points and 4.3 rebounds in 13.7 minutes.