Cavs Interested In Barnes, Kleiza, Szczerbiak

Brian Windhorst writes that the Cavs are zeroing in on signing Matt Barnes.

He reports that the team is looking to add a combo forward which could mean signing Linas Kleiza or bringing back Wally Szczerbiak.

Knicks Sign Rookie Jordan Hill

NEW YORK -- First-round draft pick Jordan Hill has signed with the New York Knicks.

The Knicks announced Saturday that they had signed the forward from Arizona. Hill was the eighth overall pick in the draft.

He would earn about $4.3 million over two years under the rookie salary scale.

The 6-foot-10, 235-pound Hill averaged 18.3 points and 11.0 rebounds in his junior year with the Wildcats. He is expected to play for the Knicks' summer league team in Las Vegas starting Tuesday.

Suns Sign Rookie Earl Clark

The Suns have signed first-round pick Earl Clark to a rookie contract.

Terms weren't released, but under the NBA's rookie salary scale Clark would make about $1.47 million in 2009-10 as the 14th overall pick.

Portland Exercises Option On McMillan For 10-11

The Portland Trail Blazers exercised their option on Head Coach Nate McMillan, extending his contract through the 2010-11 season, it was announced today by General Manager Kevin Pritchard. “I’m excited that the option year on my contract has been picked up,” said McMillan. “We have a great team, first-class organization and the fan support has been incredible. I would also like to credit the coaching staff for their hard work, and we’re all looking forward to working towards our goal of bringing a championship back to the city of Portland.”

Grizzlies Negotiating With Iverson

The Memphis Commercial Appeal reported on Friday that the Grizzlies are negotiating with free-agent guard Allen Iverson.

Iverson is also reportedly receiving interest from the Heat and Bobcats.

Memphis is mulling over a one-year offer worth $5 million, and a source close to the 13-year veteran said to "expect a resolution soon."

Hill generates interest, sticks with Suns

Grant Hill will return to the Phoenix Suns for $3 million next season and a player option for a second year, his agent said Friday.

Lon Babby said Hill received interest from seven teams, narrowed his choices to the Suns, New York Knicks and Boston Celtics and decided on Phoenix "largely because he feels he has unfinished business there. The Suns placed their faith in him. He didn't want to leave Phoenix on a sour note."

Stackhouse Waived By Memphis

The Grizzlies have waived veteran Jerry Stackhouse, just one day after acquiring him in a four-team, eight-player trade, according to an Associated Press report.

GM Chris Wallace announced the move Friday after Thursday's deal involving the Grizzlies, Mavericks, Raptors and Magic.

The Portland Trail Blazers have offered Utah Jazz free agent Paul Millsap

The Portland Trail Blazers have offered Utah Jazz free agent Paul Millsap a four-year contract worth between $32 million and $36 million, according to league sources.

The offer includes a hefty signing bonus that will make it difficult for Utah to match. The Jazz will be presented with the offer Saturday and have seven days to match because Millsap is a restricted free agent.

Ex-Blazer Frye to Phoenix

Free-agent forward Channing Frye agreed to terms with the Phoenix Suns on Friday, a source close to the process told ESPN.com.

Frye, who was with the Portland Trail Blazers the past two seasons, is believed to have signed a two-year, $3.8 million deal for the team's biannual extension and will have an option on his second year of the contract, a league source told ESPN.com.

The Cleveland Cavaliers were reportedly interested in signing Frye with the remainder of their mid-level exception, but the 2005 first-round pick of the New York Knicks decided to travel south to Phoenix.