Bonzi Wells has signed a contract to play for the Houston Rockets. After turning down a contract the re-sign with the Sacramento Kings, the two-year deal is worth $5 million and that’s more than what Latrell Sprewell has been offered to feed his family. Of course, this signing starts to downplay the trade of Rudy Gay and Stromile Swift for Shane Battier.

The New York Knicks have found themselves back in the news through a couple stories: Larry Brown is trying to convince the courts he is owed $40 million for failing to re-build the team, the team has hired Glen Grunwald, and released Maurice Taylor.

Teams are no longer pushing for a sign-and-trade to acquire Melvin Ely. The Golden State Warriors and Phoenix Suns have shown interest over the summer, but nothing seems imminent.

The Denver Nuggets announced two signings. Dermarr Johnson has decided to re-sign with the team. The deal is for more than the minimum but the terms of the deal were not announced. The Nuggets also signed Anthony Carter.

Kirk Hinrich needs to make decision on to whether sign an contract extension with the Chicago Bulls for either five or six years. The team wants to keep their point guard, and the big issue is whether Hinrich should wait one season to be eligible to sign a longer, more lucrative extension.

For the sake of Los Angeles Lakers‘ chemistry, head coach Phil Jackson will have hip replacement surgery on the same day the team opens training camp. A team spokesperson said the the winningest coach in NBA playoff history hoped to heal the hip through physical therapy (and zen?) but it sounds like the team will be without their coach for the beginning of training camp.

The Philadelphia Sixers had an easy choice to make by picking up the contract option on Andre Iguodala. The team’s second AI will at least be with the team for another season after the upcoming one.