News from July 25.

TRADE: In a sign-and-trade, San Antonio re-signed Derek Anderson to a 6
year, $48 million contract with a player opt-out after the 5th year.  
San Antonio traded Derek Anderson and Steve Kerr to Portland for Steve 
Smith.

Charlotte signed Stacey Augmon to a 2 year, $4.2 million contract.

Orlando re-signed Andrew DeClercq to a 2 year, $4 million contract.

Orlando re-signed Don Reid to a 2 year, $2.7 million contract.

Pat Croce resigned as president of Philadelphia.

Washington released Michael Smith.