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Minnesota Signs Joe Smith to Six-Year, $34 Million Deal
July 26, 2001
MINNEAPOLIS (AP) - Joe Smith, forced to leave Minnesota last year because of a series of illegal contracts, has rejoined the Timberwolves, according to published reports.
The St. Paul Pioneer Press, in a report on its Web site early Wednesday, and the Star Tribune of Minneapolis in a story later Wednesday on its Web site, said Smith signed a six-year contract worth about $34 million.
Smith's agent, Dan Fegan, told the paper that Smith orally accepted the deal earlier this week, but planning for a wedding had kept him from signing it immediately.
Documents were forwarded Wednesday to the Wolves, Fegan said. The league still must approve the contract.
Smith, who turns 26 Thursday, played with Minnesota for two seasons before an arbitrator sided with NBA commissioner David Stern, who voided Smith's contract after finding the Timberwolves guilty last fall of signing him to a series of illegal contracts designed to sidestep the salary cap.
Picked first overall by the Golden State Warriors in 1994 out of Maryland, Smith signed with the Detroit Pistons last year - averaging 12.3 points and 7.1 rebounds.
In additional punishment for the illegal contract, the Wolves were fined $3 million and forfeited five first-round draft picks - one of which was later returned. Team owner Glen Taylor is on leave of absence until Sept. 1 and vice president Kevin McHale recently returned from a seven-month suspension.
The deal will eat up all of the Wolves' $4.5 million salary cap exception,
meaning the team is limited to signing free agents to minimum contracts or
their own free agents to specified raises.
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