Lance Stephenson agrees to three-year, $27.5M deal with Hornets

Following an all-night negotiating session, the Charlotte Hornets have come to an agreement to sign Indiana Pacers shooting guard Lance Stephenson.

Under terms of the agreement, Stephenson will make $9 million in 2014-15 and $9 million in 2015-16. Stephenson will get a slight raise in 2016-17 if the Hornets pick up the team option.

Stephenson fills an obvious need, as the Hornets were weak offensively at the shooting guard and small forward positions. The 6-foot-5 Stephenson had a breakthrough season statistically, averaging 13.8 points, 7.2 rebounds and 4.7 assists.