News from August 6.
 
New York signed rookie John Wallace to a 3 year, $2,257,900 contract.
 
New York signed rookie Walter McCarty to a 3 year, $2,156,300 contract.
 
New York signed rookie Dontae' Jones to a 3 year, $1,987,200 contract.
 
Vancouver signed rookie Shareef Abdur-Rahim to a 3 year, $6,284,500
contract.
 
Milwaukee signed Armon Gilliam to a 4 year contract.
 
Miami renounced their claim to Juwan Howard, which frees the path for
Howard to rejoin the Washington Bullets.  David Stern ruled that
Washington will lose their 1997 first round draft pick in order for Howard
to rejoin the team.