News from August 6.

TRADE: In a sign-and-trade, Boston traded Chris Mihm, Chucky Atkins,
Marcus Banks, and a 2nd round draft pick to the LA Lakers for Gary Payton,
Rick Fox, a 1st round draft pick, and $2 million.  Mihm was first
re-signed to a 3 year, $11.4 million contract.  The trade would later be
modified in replacing Jumaine Jones for Banks and removing the 2nd round
draft pick as Payton refused to report for his physical.

LA Lakers signed rookie Tony Bobbitt.

New Jersey signed Eric Williams to a 3 year, $12 million contract.

Miami signed Damon Jones to a 2 year contract.