http://sports.espn.go.com/nba/news/story?id=4394104

HOUSTON — Free agent guard Von Wafer says he has signed a two-year deal with Olympiakos of Greece.

Wafer made nearly $800,000 last season with the Houston Rockets.

Wafer told KRIV-TV on Wednesday that the agreement allows him to opt out after the first year with the Greek team, but only to return to the NBA. He said Olympiakos gave him the best offer he had received all summer.

Terms were not released. Wafer’s agent did not return a message left Wednesday by The Associated Press.

On Monday, Olympiakos signed former Denver Nuggets forward Linas Kleiza to a two-year contract worth $12.2 million.

New Orleans Hornets trade Rasual Butler to LA Clippers. Hornets get 2nd-round pick in return

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The New Orleans Hornets, in a move to shed some payroll after the recent acquisition of Emeka Okafor, have agreed to trade swingman Rasual Butler to the Los Angeles Clippers for a future second-round pick, according to NBA front-office sources.

The trade is expected to be announced later Wednesday.

Butler is scheduled to earn $3.9 million next season. With the Clippers looking for an extra shooter and depth at both shooting guard and small forward, sources said the team was amenable to absorbing the final year of Butler’s contract, which will save New Orleans nearly $8 million when factoring in the luxury-tax implications.

Source: Cavs, Powe reach 2-year deal

http://sports.espn.go.com/nba/news/story?id=4392457

There were a half-dozen playoff caliber teams willing to sign Leon Powe and wait for his surgically reconstructed left knee to heal, but the forward who had been such a big hit in Boston ultimately decided he wanted to team up with an old AAU buddy — LeBron James.

Powe traveled to Cleveland on Tuesday to have his knee examined by Cavaliers team medical personnel, with the expectation that he will sign a two-year, $1.77 million deal Wednesday.

A source told ESPN.com that Powe will sign for the league minimum for players with three years of service — $855,189. Cleveland will hold a team option for a second season at $915,852.

Powe, who re-tore the anterior cruciate ligament in his left knee during Game 2 of the Celtics’ first-round playoff loss to the Chicago Bulls, is not expected to be ready to play until sometime around February.

But if he returns healthy, he will bolster a Cleveland big man rotation that already includes Shaquille O’Neal, Zydrunas Ilgauskas and Anderson Varejao along with youngsters Darnell Jackson, J.J. Hickson and Jawad Williams and recently signed Jamario Moon.

The Celtics forfeited their exclusive negotiating rights to Powe when they declined to tender him a contract offer in June. He had spent the past two years sharing time with Glen Davis as the backup power forward behind Kevin Garnett, averaging 7.7 points and 4.9 rebounds last season, and had a huge performance in Game 2 of the 2008 NBA Finals when he scored 21 points in just 15 minutes as the Celtics took a 2-0 lead over the Lakers.

Los Angeles, Portland, Dallas, Orlando and Miami also expressed interest in Powe, whose preference was to remain in the Eastern Conference and to sign with the team most capable of giving him his best shot to exact some revenge on the Celtics after they effectively gave up on him by declining to tender him a qualifying offer.

Powe had a huge game against Cleveland last March 6, going for 20 points on 9-of-11 shooting with 11 rebounds. But he injured his right knee five games later, sat out the next 12 games, then returned for the final two games of the 2008-09 regular season before tearing up his left knee (which had already undergone previous reconstructive surgery) in the playoffs against the Bulls.

Gasol injured with national team

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MADRID — Los Angeles Lakers center Pau Gasol underwent surgery on the index finger of his left hand Monday after breaking it during practice with Spain’s national team, the Lakers confirmed.

Gasol will be sidelined at least three weeks.

Lakers spokesman John Black told the Los Angeles Times that according to Gasol’s agent, Arn Tellem, there were no issues with the surgery, which took place immediately after the injury occurred Monday.

The Spanish basketball federation said Tuesday that Gasol injured the finger while blocking a shot during the workout in preparation for the European Championships.

He will wear a splint for 20 days, but the federation did not say if he will play in the championships, which start Sept. 7 in Poland.

Gasol, however, hopes to do so.

“I want to be with my teammates and fight for the championship,” the Spanish news agency Efe quoted him as saying at a news conference in Cadiz. “I don’t see why I would have to drop out.

Gasol was a key part of the Lakers’ championship this past season, averaging 18.9 points and 9.6 rebounds during the regular season. Black said Gasol had spoken with the Lakers’ trainer, and the team was trying to get in touch with the surgeon who operated on Gasol.

“I have explained the situation to the Lakers, and they have the results,” Gasol said. “They aren’t pleased I am injured but I don’t think they’ll put obstacles in my way.”

Spain is the reigning world champion but lost to Russia in the final of the 2007 European Championship. Spain won the silver medal at the 2008 Beijing Olympics, at which the United States won gold.