DETROIT -- The Detroit Pistons have decided to bring back Chauncey Billups.
Pistons president of basketball operations Joe Dumars confirmed the move Thursday morning.
Billups has agreed to a two-year deal -- the first season is guaranteed -- for $2.5 million a year.
Detroit dealt Billups to his hometown Denver Nuggets early in the 2008-09 season and the team has struggled since making the unpopular trade. Billups was the NBA Finals MVP in 2004 when he led Pistons past the Los Angeles Lakers.
The five-time All-Star turns 37 in September. He bounced back last season to play 22 games for the Los Angeles Clippers after tearing his left Achilles tendon during the 2011-12 season.
-The Associated Press
Bucks: Teague signs offer sheet
With Brandon Jennings' future with the team in limbo, the Bucks have been pursuing a possible replacement.
That player appears to be Jeff Teague, who played for head coach Larry Drew the last three seasons in Atlanta. Drew was hired as the Bucks' coach in May.
According to Yahoo Sports!, via ProBasketballTalk, the Bucks signed the 25-year-old restricted free agent to a three-year, $32 million offer sheet. The Hawks have three days to match the offer sheet.
The 25-year-old averaged 14.6 points and 7.2 assists in 80 games with the Hawks last season. He was the Hawks' 2009 first-round pick and has been the team's full-time starter at PG the last two seasons.
Jennings is also a restricted free agent, but the Bucks reportedly were unwilling to meet his demands. The 23-year-old wanted four years at $12 million per season. If the Bucks land Teague, Jennings' tenure in Milwaukee could come to an end.
The Bucks also acquired Luke Ridnour, who also plays point, from Minnesota.
Bulls: Hamilton waived
DEERFIELD, Ill. -- The Chicago Bulls have waived veteran guard Richard Hamilton, as expected.
The Bulls signed Hamilton before the 2011-12 season, hoping he could help take some of the load off Derrick Rose, but he had trouble staying healthy and fell out of coach Tom Thibodeau's playoff rotation.
So the Bulls exercised their $1 million buyout and officially parted with the former Detroit Pistons star on Wednesday.
He appeared in 78 games over two seasons, averaging 10.5 points and 2.6 assists, and it was clear his time in Chicago was winding down, particularly when he barely got off the bench in the playoffs, making just four appearances against Brooklyn and Miami.
The Bulls also signed first-round draft pick Tony Snell and second-rounder Erik Murphy, and introduced veteran Mike Dunleavy Jr. on Wednesday.
-The Associated Press