STOJAKOVIC GOES TO HORNETS IN SIGN-AND-TRADE
INDIANAPOLIS, July 12, 2006 – The Indiana Pacers announced Wednesday night they had signed Peja Stojakovic and traded him, along with cash, to the New Orleans/Oklahoma City Hornets in exchange for the draft rights to Andrew Betts.
Betts, a 7-1 center from Long Beach State who was a 1998 second-round draft pick of the Hornets, played in Europe through the 2005-06 season.
“This was an opportunity for the Pacers to benefit from Peja’s signing with the Hornets by doing a sign and trade,” said Pacers CEO and President Donnie Walsh. “We acquire a $7.5 million trade exception that will be very beneficial in any trades that come up in the next year.”
