News from July 7.

New York signed 1st round draft pick (#9) Mike Sweetney to a 3 year,
$5,936,640 contract with a 4th year worth $2,696,956 at the team's option.

Golden State signed 1st round draft pick (#11) Mickael Pietrus to a 3 year,
$5,357,760 contract with a 4th year worth $2,535,260 at the team's option.

Seattle signed 1st round draft pick (#12) Nick Collison to a 3 year,
$5,089,920 contract with a 4th year worth $2,501,070 at the team's option.

Milwaukee released Anthony Peeler.

Toronto named Bob Beyer as an assistant coach.

Portland fined Damon Stoudamire $250,000 and suspended him after he was 
arrested at an airport in Arizona for possession of a small amount of
marijuana.  It was the 3rd marijuana legal incident involving Stoudamire
in the last year.  [It will be interesting to see if Stoudamire challenges
the fine and suspension as the league does not issue suspensions until
after a player is found guilty or enters a guilty plea following criminal
charges.]