Pelicans Formalize Contracts With Davis, 3 Others

METAIRIE, La. (AP) — New Orleans Pelicans All-Star Anthony Davis and three of his teammates have formally signed contracts to which they had verbally agreed to during the first week of the NBA's free agency period.

The league year began with an eight-day moratorium on signing new contracts, but allowed clubs to negotiate non-binding, verbal agreements which could not become official until Thursday.

Pelicans general manager Dell Demps says contracts with Davis, along with centers Omer Asik and Alexis Ajinca, and forward Dante Cunningham, are now signed.

Davis has agreed to a five-year extension, beginning in 2016, worth about $145 million. Asik signed a five-year, $58 million free-agent deal that begins this season. Ajinca signed for $20.2 million over four years and Cunningham for $9 million over three years.