News from August 27. Michael Jordan and Chicago have reportedly agreed to terms for a new contract believed to be a 1 year, $36 million deal. The formal signing is expected to occur next week. Orlando re-signed Nick Anderson to a 4 year, $16 million contract. The contract also includes 2 additional years and $36 million worth of personal and team performance based incentives. The LA Lakers signed Jon Barry to a 1 year, minimum contract. Portland signed John Crotty.