NBA Free Agency News: Deron Williams Returns To Nets, Eric Gordon Signs Max Offer Sheet With Phoenix Suns

Chicago Bulls fans might not want to pay too much attention to what's going on in Brooklyn right now. While both the Bulls and Nets are quite obviously considered major market teams, only one is acting like it.

While the Bulls brace themselves to decline several one-year team options on bench stalwarts C.J. Watson, Ronnie Brewer and Kyle Korver, the Nets continue to take on salary and now look to be in position to develop into one of the Eastern Conference's best teams.

Brooklyn traded for productive yet wildly overpaid shooting guard Joe Johnson on Monday. On Tuesday, Brooklyn re-upped point guard Deron Williams to a max contract that will pay the former Illinois Fighting Illini star close to $100 million for five years. Williams chose to remain in Brooklyn over a 4-year max deal from the Dallas Mavericks.

Brooklyn also re-signed Gerald Wallace to a four-year, $40 million deal and added stretch power forward Mirza Teletovic from Bosnia.

The Nets aren't the only team making moves.

  • The Phoenix Suns signed restricted free agent Eric Gordon to an offer sheet that would pay the guard a max contract, but the New Orleans Hornets have already said they'll match. Gordon doesn't appear too happy about it, saying "Phoenix is just where my heart is."
  • Veteran guard Jason Terry agreed to terms on a three-year contract with the Boston Celtics.
  • Ray Allen is set to meet with the Miami Heat and Los Angeles Clippers in the coming days. Allen is also weighing an offer from the Boston Celtics, though it appears unlikely he'll return.
  • Landy Fields signed a three-year offer sheet with the Toronto Raptors for $20 million. It is believed to be structured similar to the offer sheet the Houston Rockets gave Omer Asik, in that the third season will give Fields a huge raise, probably around $10 million for the 2014-2015 season.
  • Guard George Hill signed a five-year contract with the Pacers to remain in Indianapolis.
  • The Bulls are one of the teams interested in shooting guard Courtney Lee, who became a free agent yesterday when the Rockets withdrew his tender offer.

For more, stick with SB Nation Chicago. For more on the Bulls, head over to Blog a Bull. For additional news, notes and analysis from around the NBA, visit SB Nation's NBA news hub.

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