News from July 12. Chicago re-signed free agent Michael Jordan to a one year contract. The contract is believed to be worth $20 - 30 million. Chicago renounced their rights to first round draft pick Travis Knight. Phoenix re-signed John Coker to a 2 year contract. The USA Men's Olympic Basketball team played an exhibition game against the Australian Men's Olympic Basketball team. USA 118, Australia 77 - at Salt Lake City Reggie Miller (USA) had 19 points on 6-6 FG, 3-3 3-poitners, and 4-4 FT in 19 minutes. Shaquille O'Neal (USA) had 18 points including 7-10 FG and 6 rebounds in 17 minutes. Karl Malone (USA) had 14 points including 6-8 FG. David Robinson (USA) had 12 points and 7 rebounds. Tony Ronaldson (Aus) had 12 points. Andrew Gaze (Aus) had 11 points. Shane Heal (Aus) had 28 points including 8-13 3-pointers and 5 turnovers. USA shot 58.1% (43-74) FG and Aus shot 42.2% (27-64) FG.