Report: Lance Stephenson signs deal with Charlotte Hornets

Free agent shooting guard Lance Stephenson has signed for the Charlotte Hornets, according to a report.

The 23-year-old was available on the market after failing to come to terms with the Indiana Pacers over a new deal with the club, despite receiving a lucrative offer.

Stephenson has now penned a three-year contract with the Hornets worth $27m (15.7m), reports ESPN.

The guard averaged 13.8 points a game for the Pacers last season.