Udonis Haslem Re-Signs

The Miami Herald reports

In the end, forward Udonis Haslem chose the chance to be part of a dynasty over the opportunity to make more dollars.Haslem said Monday he turned down more lucrative offers to sign a five-year contract with the Heat. The deal is worth in excess of $20 million.

“It was an opportunity to win, an opportunity to be close to my mother, with her illness, and an opportunity to be a part of something special,” he said. “I’ve never been in this for the money. I would be changing my DNA if I changed just for money.”

Nets Sign Farmar

RealGM has the press release

The New Jersey Nets have reached an agreement in principle with free agent guard Jordan Farmar, Nets President Rod Thorn announced tonight. Per team policy, terms of the agreement were not released. The agreement is contingent on the passing of the required physical.“Jordan will be an excellent complement to Devin in the backcourt,” said Thorn. “He comes to the Nets with championship pedigree, which will prove to be invaluable to his teammates.”

The deal was worth $12 million over three years.

Phoenix Trade For Turkoglu + Childress

David Aldridge reports

The Phoenix Suns didn’t want their summer to be defined by losing Amar’e Stoudemire to the New York Knicks, and they made sure of it Sunday night with two major deals, acquiring veteran forward Hedo Turkoglu from the Toronto Raptors for guard Leandro Barbosa and agreeing to a trade with the Atlanta Hawks that will bring restricted free agent Josh Childress, whose rights the Hawks still hold, to Phoenix in exchange for a second-round pick. Childress will receive a five-year, $34 million deal from Phoenix.

Pistons Keep Big Ben For Two Years

Vincent Goodwill of the Detroit News reports (via Twitter)

Source tells me Ben Wallace will sign a two-year deal to remain with team…making slightly more than vets minimum.

Good signing for the Pistons.

Asik Joins Bulls

Hoopsnotes.com reports

Ömer Asik will play next season for the Chicago Bulls after both parts have reached to an agreement. The 24-year-old Turkish center, who was selected with the 36th overall pick in 2005, has played during the last three seasons for Fenerbahce, averaging 8.9 points and 6.0 rebounds in the last Euroleague.

Nice to see him coming over. Chicago creating some big man depth here.

Grizzlies Closing In On TA

Ronald Tillery reports

The Grizzlies are close to agreeing on a contract with Boston Celtics free agent swingman Tony Allen, The Commercial Appeal has learned.

Allen, 28, is an unrestricted free agent and the Griz are hoping to sign him to a multiyear deal starting at roughly $3 million.

The Griz decided on Allen because of the defense and toughness he could bring to the backcourt off the bench. Memphis is also said to like Allen’s leadership qualities and championship attitude given he’s played for the title-contending Celtics.

I am hearing that it is a three year $10 million contract.

Redd Out Til February

ESPN reports

Michael Redd is being cautious in his recovery from a second major knee operation and may not return until February 2011, the Milwaukee Journal Sentinel reported Saturday.

According to the report, Redd is worried that rushing his return could lead to the same result as last season.

Redd blew out his left knee 47 games into the 2008-09 season and rehabbed in time to open 2009-10 with the Bucks.

Blazers Give Matthews Huge Offer Sheet

ESPN reports

For the second straight year, the Portland Trail Blazers are trying to poach a restricted free agent from the Utah Jazz.

The Blazers have signed Jazz shooting guard Wesley Matthews to a five-year, $34 million, according to a league source.

Utah now has seven days to match, but it could be incredibly difficult for the Jazz to do so.

New Orleans Sign Luther Head (Update: Deal is off)

Marc Stein reports via twitter

Luther Head going to New Orleans, agent Mark Bartelstein says. Head to receive two-year, $2.3 million deal with player option for Year 2

Good money for Luther Head.

If that is anything over the veteran minimum, and at first glance it looks like it is, then that is a bad signing for New Orleans. Luther Head is not a rotation player on that club.

GSW Acquire Dorell Wright

ESPN reports

The swingman who spent his first six seasons in Miami agreed in principle to a three-year deal Saturday with the Golden State Warriors, returning to his native California.

Sources told ESPN.com that Wright’s deal is expected to be in excess of $10 million.

Golden State is not planning to match an offer sheet New Jersey has committed to extending to Warriors restricted free agent Anthony Morrow.