Morris Peterson and the New Orleans Hornets agreed to terms on a 4-year contract, a person with knowledge of the deal told The Associated Press on Friday.
The person, who spoke on the condition of anonymity because the contract has not been announced, said Peterson would sign the deal following a vacation.
Peterson visited Salt Lake City earlier this week to meet with Utah Jazz officials. He also said Detroit, New Jersey, Cleveland, Miami and Toronto had expressed interest in him.
He has spent his entire seven-season career with the Raptors.
The 6-foot-7, 220-pound Peterson, who can play shooting guard or small forward, has career averages of 12 points along with nearly four rebounds, two assists and a steal.
His production and playing time fell last season - averaging 8.9 points and 21.4 minutes - one season after career highs in scoring (16.8), rebounding (4.6), steals (1.3) and minutes (38) a game.
Peterson produced sporadically during a first-round series against the Nets last season. He scored 17 points in Toronto's Game 5 win, then had nine points, eight rebounds, two steals and a block in Game 6 when the Raptors were eliminated.
After helping Michigan State win the 2000 national championship, Peterson was drafted 21st by the Raptors. He averaged 14 points in his second and third NBA season and 12.5 in his fourth season.
As a restricted free agent in 2004, the Hornets signed Peterson to a $15 million, three-year offer sheet and Toronto retained him by matching the deal.

Top NBA Public Bets

#1 504 Boston Celtics  76%
#2 708 Atlanta Hawks  75%
#3 704 Toronto Raptors  74%
#4 712 Memphis Grizzlies  73%
#5 506 Denver Nuggets  59%
#6 710 Milwaukee Bucks  56%
#7 702 Charlotte Hornets  53%
#9 507 Phoenix Suns  51%

NBA Top Stories

Thumbnail Suns vs. Trail Blazers Pick Are the host Portland Trail Blazersgoing to cover the large spread tonight at 10PM ET when they play the Phoenix...
Thumbnail Mavericks vs. Nuggets Pick Will the Dallas Mavericks and host Denver Nuggets engage in a high-scoring affair...
Thumbnail Pelicans vs. Celtics Pick Will the host Boston Celtics going to ride their home-court advantage to victory tonight when they battle the New Orleans...
Thumbnail Timberwolves vs. Magic Pick Are the Minnesota Timberwolves going to ease to a victory tonight when they play at the Orlando Magic?...
Thumbnail Rockets vs. Clippers Pick Are the Los Angeles Clippers going to win a fifth straight game tonight when they host the Houston Rockets at...

NBA Team Pages