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NBA | Trail Blazers buy out Francis; Pistons sign Billups

The Portland Trail Blazers have agreed on a buyout with guard Steve Francis, who was acquired in a draft-night deal with the New York Knicks.

The Portland Trail Blazers have agreed on a buyout with guard Steve Francis, who was acquired in a draft-night deal with the New York Knicks.

Francis, who was due $34 million over the final two years of his contract, was expected to clear waivers and become an unrestricted free agent.

The terms of the buyout with the Trail Blazers were not released. The deal was confirmed yesterday by the Washington office of Francis' longtime agent, Jeff Fried.

The Blazers acquired Francis and Channing Frye from the Knicks in exchange for Zach Randolph, Dan Dickau and Fred Jones on June 28.

Francis averaged a career-low 11.3 points for the Knicks last season.

Also yesterday, the first day of free-agent signings, the Blazers and the Phoenix Suns completed a deal that sent James Jones and the draft rights to Spanish guard Rudy Fernandez to Portland in exchange for $3 million and other considerations. Fernandez was the 24th overall pick in the draft by the Suns.

The Blazers, who selected 7-foot center Greg Oden with the No. 1 pick in the draft, had two free agents: forwards Ime Udoka and Travis Outlaw. The team was expected to try to meet offers for Outlaw.

Oden, meanwhile, played in two games for Portland in the NBA's summer league, before doctors determined that he needed a tonsillectomy, which is scheduled Saturday.

Billups signs with Pistons. Chauncey Billups signed a $60 million, five-year contract with Detroit, returning to the team he helped reach five straight conference finals. The contract is worth $46 million guaranteed over four years and includes a team option for the fifth year.

Billups averaged 17 points, 7.2 assists and two turnovers last season, finishing second in assist-to-turnover ratio and helping the Pistons to the best record in the Eastern Conference.

Detroit hopes to improve its depth and future by re-signing restricted free agent Amir Johnson, who has impressed the team despite playing just 11 NBA games since the 6-foot-9 forward was drafted out of high school in 2005.

Chris Webber, who ended the season as Detroit's starting center, is an unrestricted free agent.

It's not clear if Webber wants to play again, or if the Pistons want him back.

Milicic to Grizzlies? Memphis reached an agreement in principle with 7-footer Darko Milicic, according to an NBA source, the Memphis Commercial Appeal reported.

The Grizzlies will sign the unrestricted free agent from the Orlando Magic to a three- to four-year deal starting at $6 million to $7 million.

Hill seeks a title. As an unrestricted free agent, Grant Hill had plenty of options.

He chose the Phoenix Suns because he wants the same thing they do: an NBA title. A championship trophy has eluded the Suns since their birth in 1968 and Hill during an injury-plagued 13-year career.

"I'm sure everybody knows I've been through a lot," said Hill, who was introduced at a US Airways Center news conference. "But I feel like this is a reward, the opportunity to play here and try to win a world championship."

Hill said he was courted by at least 10 other teams, which he did not identify.

The 6-foot-8 forward agreed to a two-year deal worth about $1.8 million for the first year, with a second-year player option for about $2 million.

Lewis joins Magic. Rashard Lewis formally joined the Orlando Magic, leaving the Seattle SuperSonics after nine seasons when the teams completed a sign-and-trade deal for the high-scoring forward.

The Magic sent Seattle a conditional second-round pick, while the SuperSonics earned a trade exception believed to be in the $9 million range.

The six-year deal - Lewis agreed to a five-year pact, but the sign-and-trade allows an extra year to be worked into the contract - is expected to be worth at least $110 million.

Lewis averaged a career-best 22.4 points last season for Seattle.

Bobcats, Wallace agree. Bobcats leading scorer Gerald Wallace reached an agreement in principle that would keep him with Charlotte, executive vice president of basketball operations Bernie Bickerstaff said. At least eight teams had pursued Wallace, who averaged 18.1 points last season.