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Hornets All-Star point guard Chris Paul agreed to a three-year contract extension with a player option for a fourth year, his agent Lance Young said Thursday.

The deal is estimated at $68 million, which will push Paul's yearly salary starting in 2009-10 to more than $20 million per season, Under NBA rules, Paul cannot sign the deal until July 9.

"The deal is done,'' said Young, who declined to go into more specifics regarding the deal.

Young and Hornets General Manager Jeff Bower had been in discussions since Wednesday after agreeing in principle on the extension Tuesday. However, Young arrived in New Orleans on Wednesday to finalize some specifics of the contract that was not resolved after six hours of discussions at the Alario Center. Initially, Young said Paul would decide between a four or five year deal. But three years with the player option is the same maximum money contract deal that Cleveland Cavaliers star LeBron James agreed upon in 2006.

Signing Paul to an extension was the biggest uncertainty the Hornets had heading into the free-agency period. With his contract now finalized, it could be the move to jumpstart the Hornets' pursuit to sign a shooting guard in free agency.

With discussions lasting more than six hours on Wednesday at the Alario Center, a contract extension for Chris Paul still had not been finalized.

But Paul's agent, Lance Young, said they planned to resume talks later on Wednesday night to see if they can get it wrapped up. Paul arrived at the Alario Center early Wednesday morning, but left abruptly in his SUV from the players' private parking lot after sitting in on discussions for nearly two hours.

The Hornets and Paul agreed in principle on a contract extension Tuesday for either four or five years that range from $60 million to $80 million, but Young said it would take the next 24 to 48 to get the deal finalized once he arrived in New Orleans on Wednesday.

"We felt like it went well,'' Young said after his meeting with Bower. "We'll talk to Jeff later on tonight or tomorrow to see if we can get it wrapped up sometime soon. We're all on the same page.''

Young said he was unsure if he would have to remain in New Orleans on Thursday to resume discussions. By NBA rules, Paul cannot sign the deal until July 9.

Agent Mark Bartelstein said he had brief discussions with the Hornets on Tuesday regarding Boston Celtics free agent James Posey.

"We talked, but there are several teams interested in James,'' Bartelstein said.

The Hornets are seeking a shooting guard and Posey is one of the top available free agents.

The Times-PicayuneHornets point guard Chris Paul and the team have agreed to a long-term that will be finalized by Thursday of this week.

The Hornets accomplished their biggest priority of the offseason Tuesday, agreeing in principle on a contract extension with All-Star point guard Chris Paul. The deal, which will be either four or five years and range from $60 million to $80 million, is expected to be finalized by Thursday.

Paul's agent, Lance Young, said he will arrive in New Orleans today to work out details of the contract with Hornets General Manager Jeff Bower. By NBA rules, Paul cannot sign the deal until July 9.

"We're going to try and get it done in the next 24 to 48 hours once I get down there," Young said. "I think if you go back and look, there is nobody who did a three-year deal of all the max deals done in the last few years. I would say three years is not what he is going to do. It will be a four- or a five-year deal."

Eliot Kamenitz / Times-PicayuneBaron Davis has already switched uniforms, but is looking to do so again.

Former New Orleans Hornets guard Baron Davis is the latest (and perhaps biggest) name to head for free agency this offseason, as he opted out of the final year of his contract with the Golden State Warriors last night (as reported by The Associated Press).

Davis joins a list of free agent players that has continued to grow more and more impressive as the hours ticked by. Two big-name Clippers, Elton Brand and Corey Maggette, are also opting for free agency and should demand major attention on the market. They join such players as James Posey, Brent Barry and Chris Duhan as possible players the Hornets could pursue once free agency kicks off, though admittedly, Brand and Maggette may command too much money to be realistic options.

Regardless, given the Hornets' passing on the NBA Draft, and given some of the names shaking loose across the league, the upcoming free agency period is shaping up to be an exciting one.

Staff / Times-PicayuneSaints training camp is creeping up.

With so much going on in the New Orleans sports community, it's easy to lose sight of things.

That's where NOLA.com comes in. David Gladow offers a weekend preview of sorts every Friday at noon in the form of a live chat with the New Orleans community.

Want to talk about the Saints' latest moves or the upcoming VooDoo game? Want to vent your frustrations over the Hornets playcalling? This is your time to sound off. Send in your questions and comments, and Dave will touch on your hot topics every week.

Darrell Arthur wore a Hornets cap immediately after he was selected during Thursday night's NBA draft, but he eventually had to exchange it.

As expected, the Hornets completed a draft-day trade, selecting the Kansas forward Darrell Arthur with the 27th pick before trading his draft rights to the Portland Trail Blazers for cash considerations that could total up to $3 million.

Former LSU forward Anthony Randolph is selected No. 14 by the Golden State Warriors

New Orleans local D.J. Augustin is selected No. 9 by the Charlotte Bobcats

4.) 2007-08 New Orleans Hornets (56-26) - lost second round

Staff / Times-PicayuneThe Hornets used tons of star-power to win tons of games.

The team that inspired this list in the first place, the 2007-08 New Orleans Hornets, checks in at No. 4. And while that may seem high for a team that couldn't even reach its conference finals, it's the quality of the team itself (in addition to its accomplishments) that merits such a high ranking.

Ask yourself this: Have any teams in the history of this city had as much star power as last year's Hornets? Perhaps a couple, but not many.

Point guard Chris Paul turned himself into a legitimate MVP candidate almost overnight, dominating the league like few guards before him. Forward David West joined him on the All-Star team (along with head coach Byron Scott). Peja Stojakovic. Tyson Chandler. The names were big, and perhaps most importantly, they all delivered.

Resist the urge to buy into the company line until you see what the company lines up and buys.

Resist it until after the NBA's free-agency period is complete. Because only after then will we know whether the Hornets' trade with Portland was a good one, or whether No. 27 should have been kept.

With a desire to obtain veteran help to improve their bench, the Hornets are awaiting league approval today for a trade deal that would send their 27th pick to the Portland Trail Blazers for cash considerations.

In his explanation of why the Hornets decided to get involved in trade discussions, General Manager Jeff Bower said it usually takes up to three years for a low first-round draft pick to make an impact.

The Hornets are expected to finalize a deal with the Portland Trail Blazers later today that will involve trading their 27th pick in the first round for cash considerations, according to a league source Wednesday morning.

Chris Douglas-Roberts plans to be on an airplane back to his hometown of Detroit during the NBA draft Thursday night.

The Hornets held their final pre-draft workout at Tulane's Fogelman Arena on Tuesday, bringing in six prospects: Chris Douglas-Roberts (Memphis), DeVon Hardin (California), Sonny Weems (Arkansas), David Gomez (Tulane), Gavin Grant (N.C. State) and James Mays (Clemson).

Douglas-Roberts said it was his 10th workout with a team, while Gomez said it was his first. It was also the second time the Hornets had brought in Weems.

Miami Beach police arrested Hornets backup guard Rasual Butler early Monday morning and charged him with carrying a concealed firearm without a permit and wrongful display of a firearm. According to the police report, Butler's gun was registered but not in Florida.

Hornets General Manager Jeff Bower issued a statement through spokesman Harold Kaufman Monday afternoon: "We've been in contact with Rasual's representives this morning and we're in the process of gathering all the accurate and pertinent information regarding this incident. We take these matters very seriously and we'll work with all appropriate authorities.''

9.) 1967-68 New Orleans Buccaneers (48-30) - ABA finals

Staff / Times-PicayuneLarry Brown led the Buccaneers all the way to the ABA Finals.

Mention to people that New Orleans used to have a professional basketball team prior to the Hornets, and most will immediately think of the Jazz, who competed here from 1974-79 before moving to Utah.

But the Jazz, despite featuring one of the most memorable figures in New Orleans sports history in "Pistol" Pete Maravich, never once topped .500 until after leaving the city. A much more successful basketball team predated them in the 1960s: The New Orleans Buccaneers.

Members of the ABA, the Buccaneers had quite a successful run during their stay in New Orleans, posting back-to-back winning seasons in 1967-68 and 1968-69. The next year, the team finished .500 and out of the playoffs ... and soon thereafter moved to Memphis, renaming itself the "Pros." Still, those first two seasons resulted in as high a quality of basketball as could be found in the old ABA.

Darrell Walker, who has been the lead assistant on Byron Scott's staff since his arrival in 2004, has accepted a similar position with the Detroit Pistons under newly hired coach Michael Curry.

Since June 10, Hornets General Manager Jeff Bower and Coach Byron Scott have worked out 34 draft prospects at the New Orleans Arena.

During the previous two seasons in Oklahoma City, when the Hornets had a lottery pick (top 14), they worked out no more than 15 players leading up to the draft.

Former LSU forward Anthony Randolph worked out for the Portland TrailBlazers today, and affiliate OregonLive.com was there to chat with the NBA hopeful.

Randolph discusses his future and the draft process at the link and below.

Staff / Times-PicayuneLSU is on center stage this weekend.

With so much going on in the New Orleans sports community, it's easy to lose sight of things.

That's where NOLA.com comes in. David Gladow offers a weekend preview of sorts every Friday at noon in the form of a live chat with the New Orleans community.

Want to talk about the Saints' latest moves or the upcoming VooDoo game? Want to vent your frustrations over the Hornets playcalling? This is your time to sound off. Send in your questions and comments, and Dave will touch on your hot topics every week.

ELIOT KAMENITZ / THE TIMES-PICAYUNEHornets star guard Chris Paul could face off against France's Tony Parker in the Olympics in August.

Hornets star point guard Chris Paul will be one of the 12 members of the U.S. Olympic basketball team, sources close to the player said Thursday.

The team will be officially announced Monday in Chicago.

This will be the 23-year-old point guard's first Olympic experience. He helped lead Team USA to an 8-1 record and bronze medal at the 2006 FIBA World Championship in Japan.

Hornets center Tyson Chandler was a candidate for the team but wasn't selected.

Scott Threlkeld / Times-PicayuneWho is the greatest?

As part of our determination of the best sports teams in the history of New Orleans, we're going to open the door to the fans to offer their say. Last week, you got to put in your two cents for who should be nominated. Now, it's time to pit your choices against one another.

Today, we vote on the best local pro teams in the city. This is by no means a complete list, but rather a collection of fan submissions. And while there's no way to include everyone, these are some of the best teams this city has probably ever seen.

(Poll after the jump)

BOSTON -- The Celtics continued to provide an impressive defensive showing, taking an 89-60 lead after three quarters. They outscored the Lakers 31-25 during the third quarter.

BOSTON -- The Celtics closed out the Lakers in the second quarter on a 26-6 run to take a 58-35 halftime lead. Boston caused 11 turnovers and they forced Kobe Bryant to miss six consecutive shots after he opened the game making four of his first five attempts. Former LSU forward Glen Davis entered for the first time but missed his only shot attempt. The Celtics had 10 steals and Kevin Garnett scored 17 points.

BOSTON -- The Celtics started the game missing 15 of their first 18 shots, but they trailed only by a 13-12 margin. Once Kevin Garnett found his rhythm from the perimeter, the Celtics gained the momentum. During a stretch, Garnett made three consecutive jumpers, including a difficult fadeaway over Gasol, that allowed Boston to close out the quarter with a 24-20 lead. Bryant scored 11 points, hitting four of his first five shots. Celtics point guard Rajon Rondo had three steals in the quarter.

BOSTON -- Kendrick Perkins will start tonight against the Los Angeles Lakers after missing Sunday's Game 5 with a strained left shoulder.

Perkins participated in Tuesday morning's shootaround and deemed himself ready. But Coach Doc Rivers did not make it official until about an hour before tip-off when he announced Perkins would start.

The Hornets had four former college seniors work out at the New Orleans Arena on Tuesday: Guard J.R. Giddens (New Mexico), guard Stanley Burrell (Xavier), forward Joey Dorsey (Memphis) and center Longar Longar (Oklahoma).

Dorsey said he strained his index finger during the workout, but Hornets Coach Byron Scott was impressed with Dorsey's physical ability - and his personality.

"He would fit in well with CP and JP and some of the guys we have," Scott said.

BOSTON -- The Celtics are back at the TD Banknorth Garden with a chance to close out the Los Angeles Lakers tonight and win their first championship since 1986.

The Los Angeles Lakers and the Boston Celtics both needed a rest after Game 4 of the NBA Finals. The two off days before tonight's Game 5 provided a different kind of relief for each team.

"We need rest and recuperation in this situation, probably more psychologically than we do
physically," Lakers Coach Phil Jackson said Friday, when both teams canceled practice.

The Lakers have been recovering emotionally from their shocking Game 4 loss in which they couldn't hold a 24-point lead and their 3-1 series deficit, but the Celtics have been healing physically. Celtics point guard Rajon Rondo was limited in Thursday's game with a left foot injury, center Kendrick Perkins injured his left shoulder and forward Paul Pierce tweaked knee and ankle injuries.

The Hornets evaluated draft prospects for the third consecutive day, putting six players through a three-on-three scrimmage and agility drills at the New Orleans Arena.

LOS ANGELES -- The off day between the first two NBA Finals games at the Staples Center projected a bizarre tone, one that was only appropriate after two proud teams grinded their way to an 87-81 result in Game 3 on Tuesday night.

AP Photo / Lucy NicholsonIs the Lakers-Celtics series fixed? Only the NBA knows for sure.

Former official Tim Donaghy is the gift that keeps on giving for David Stern and the rest of the NBA.

Unfortunately, that gift resembles something like a bad case of athlete's foot.

The latest allegations from Donaghy, dismissed vigorously by the NBA, are some of the worst yet and call into question the legitimacy of any NBA contest ... not just the ones he personally refereed.

According to The Associated Press, Donaghy "... claimed the NBA routinely encouraged refs to ring up bogus fouls to manipulate results but discouraged them from calling technical fouls on star players to keep them in games and protect ticket sales and television ratings."