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Sources: Peterson agrees to $23M deal with Hornets

Updated: July 23, 2007, 6:21 PM ET
ESPN.com news services

Peterson

NBA free agent Morris Peterson agreed to terms on a four-year contract with the New Orleans Hornets on Friday, multiple sources say.

ESPN.com's Chris Sheridan reports that Morris will get $23 million over the four years with a "trade kicker" included in the contract.

Peterson is expected to sign the deal following a vacation, according to an AP source who spoke on condition of anonymity because the contract has not been announced.

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