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Hornets land Stephenson

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CHARLOTTE, NC (TheSpread) – The Indiana Pacers got a little worse and the Charlotte Hornets got a little better Wednesday as they signed former Pacer Lance Stephenson.

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Stephenson signed a three-year deal with Charlotte worth a reported $27 million, according to league sources. The contract includes a team option for the final season, but gives Charlotte a high-profile player to market.

Stephenson averaged 13.8 points, 7.2 rebounds and 4.6 assists per game for Indiana last season and he helped lead the Pacers to the Eastern Conference Finals. The 13.8 points per game was a career-best average for Stephenson, who has spent all four of his NBA seasons with the Pacers.

According to oddsmakers at Bovada.lv, Charlotte now has 75/1 odds to win the NBA Championship next season while Indiana now has 18/1 odds. Oddsmakers see Cleveland as the favorite with 15/4 odds, while San Antonio has 9/2 odds.

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