Per the Charlotte Observer…

The Charlotte Bobcats and Raymond Felton’s agent both confirmed this morning that Felton has signed the one-year, $5.5 million qualifying offer for this season, which will make him an unrestricted free agent next summer.

This amounts to an acknowledgement that the team and Felton couldn’t work out a long-term deal. Agent Kevin Bradbury said Felton isn’t upset by that and wants to remain in Charlotte.

The solid play of D.J. Augustin has made Felton expendable in Charlotte. Felton averaged 14.2 points and 6.7 assists last year, but shot less than 41% from the field and less than 29% from long range.

When restricted free agents are unable to work out a long-term deal, it’s a sign that they will be moving to a different zip code within a year. We’ll see if that holds true for Felton.

Trevor Ariza is featured in the most recent issue of ESPN The Magazine and in an article written by Sam Alipour, he discusses how he came to sign with Houston instead of staying put and re-signing with the Lakers. (Insider subscription required.)

That script began to be rewritten at the toll of free agency, 12:01 a.m. on July 1, one minute into the day after Ariza’s birthday. He was still celebrating with family when he received a call from his agent, David Lee. “He said, ‘The Lakers called, and they think you’re worth only the midlevel,’ ” or $5.8 million a year, Ariza recounts. Technically, it wasn’t even an offer. Says Lee of the Lakers GM, “Mitch Kupchak’s exact quote was, ‘We want Trevor on the cheap, and we’re not going to make an offer. Find what the market will bear and come back to us.’ ”

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I’ve written about this ad nauseam, but the Bucks elected not to match Minnesota’s offer for up-and-coming point guard Ramon Sessions.

Even with the whole Ricky Rubio/Jonny Flynn mess strategy, this is a nice move by the Timberwolves. Sessions can play a little off guard, but he and Flynn will have some battles in practice and should ultimately make each other better. He’s just 23 and has proven that he can be productive in limited minutes, and now that he’s locked into a reasonable contract, he’s going to be a valuable asset for the T-Wolves.

Per the Memphis Commercial Appeal…

Free-agent guard Allen Iverson informed the Grizzlies this morning that he will accept a one-year offer to bring his explosive scoring to FedExForum this season, according to an NBA source.

Iverson’s decision came following a Monday night meeting in Atlanta with Griz owner Michael Heisley, general manager Chris Wallace and head coach Lionel Hollins. Iverson, a 34-year-old, 13-year veteran, will play for a contract that pays $3.5 million (what the Griz have left under the salary cap) and the deal will be loaded with incentives.

Iverson confirmed his decision on Twitter.

Iverson will join MIke Conley and O.J. Mayo in the Grizzlies’ backcourt. Coming off the bench hasn’t worked for AI in the past, so I’d expect a deal was made that would have Iverson start, likely alongside Mayo.

AI is a veteran with a unique skill set, so the fact that he landed with the Grizzlies instead of joining a contender is a testament to the current state of the economy and his unwillingness to accept a lesser role to play for a winner.

It’s that time of year in the NBA. Free agency is winding down, training camps are still a few weeks away and the news is generally slow.

So when the worst team in the league makes an offer — doesn’t sign, mind you, only makes an offer — to a 34-year-old former MVP whose best years are behind him, it becomes the lead story on ESPN’s NBA page.

Iverson is one of the most high profile, unrestricted free agents remaining on the market, and there were reports in recent days that he was leaning hardest toward reuniting with his old coach, Larry Brown, with the Charlotte Bobcats.

But the Bobcats are for sale and are under severe financial constraints, and Iverson’s other strongest suitor — the Miami Heat — is already more than $3 million into luxury tax territory and has not been willing thus far to make Iverson a substantial financial offer.

Memphis is approximately $3.5 million under the salary cap for the 2009-10 season and thus could easily outbid Charlotte and Miami for the services of the 10-time All-Star, whom Grizzlies owner Michael Heisley sees as a strong gate attraction.

Iverson could help a contender, but his stint in Detroit leaves the impression that he doesn’t play well with others. This is why teams like Charlotte and Memphis are in the running for his services.

According to a Dime source, Allen Iverson is headed to Charlotte to reunite with former head coach Larry Brown.

Friday night, Dime’s Aron Phillips spoke to an unnamed source who works in the NBA and said that Allen Iverson has worked out the details of a contract with the Charlotte Bobcats, but the deal won’t be official until next week. The general consensus surrounding A.I. is that the 34-year-old is too stubborn to blend into a contender’s system, and at the same time, will stunt the development of any up-and-coming young team. But Iverson in Charlotte could be a win-win for both sides: The ‘Cats need a go-to scorer on the perimeter, and Raja Bell and Gerald Henderson are more than expendable as far as coming off the bench while Iverson starts at two-guard.

Iverson is one of the league’s all-time most popular players, so he should help the Bobcats move some jerseys as well. Depending on what the team decides to do with D.J. Augustin, this could greatly impact Felton’s bargaining position heading into next summer. If Augustin starts, then Felton will have to come off the bench in a reserve role, and that will hurt his numbers.

Yes, according to his Twitter feed.

My people just informed me that we are getting close to a deal. I asked them to call me the when its done. I am so ready to know!

I have not been this eager with anticipation since the night before the NBA Draft in 96. Then I knew where I was going, now I want to know!

It sounds like even he doesn’t know where he’s going. Why are his people keeping him in the dark? So that he won’t spill the beans on Twitter?

Chris Sheridan outlines the five teams that are likely in the mix for AI’s services: Miami, New York, Charlotte, LA Clippers and Memphis.

He thinks the Heat are the frontrunner.

Per the NY Post…

Pint-sized New York Knicks player Nate Robinson came up short last night in The Bronx, where cops busted the slam-dunk expert for driving with a suspended license, authorities said.

Robinson — whose license was suspended in June for the fifth time — was driving himself and newly drafted New Jersey Nets player Terrence Williams when cops stopped him in The Bronx in the late afternoon.

Robinson tweeted just after he was pulled over, saying that he thought that he was stopped because his windows were too dark. After the arrest, he had this to say…

“To All My Tweeps: I was irresponsible earlier when I tweeted about being pulled over,” Robinson wrote afterwards. “I thought it was for tinted windows but turns out I had an unpaid ticket and I wasn’t aware the ticket had been mailed to my Seattle address … I apologize to the Knicks, my family and fans.”

Tsk, tsk, tsk…

Not a smart move for a restricted free agent hoping to sign a one-year deal with the Knicks and enter unrestricted free agency next summer. I doubt this will impact the Knicks’ decision, but you never know.

I think we can file this one under “obvious,” since the Magic didn’t re-sign Turkoglu, but it’s interesting nonetheless…

Per Real GM…

In a conversation with Blazers’ general manager Kevin Pritchard, [Magic GM Otis] Smith told Pritchard that he had “caught a break” with Turkoglu signing elsewhere and made it clear the Blazers “weren’t missing out on anything,” sources tell RealGM’s Alex Kennedy.

Smith didn’t feel that Turkoglu was worth the five-year, $50 million Portland was ready to spend.

Turkoglu is 30. If anyone thinks that he’s going to be worth $11-$12 million when he’s 34 or 35 and at the back end of this contract, I’d like to have some of what they’re smoking. But both the Blazers and the Raptors knew that in order to get Turkoglu to agree to a deal, it had to be a long-term contract.

Smith didn’t say this publicly, so I’m not going to blast him for throwing a former player under the bus. But it still seems odd that he’d be badmouthing Turkoglu — one of the main reasons the Magic made an appearance in the Finals — to other GMs around the league. When Jameer Nelson went down, Turkoglu took over the ballhandling duties and acted as a point forward. He ran countless pick and rolls with Dwight Howard, dished out a bunch of assists and hit several huge shots. Simply stated, Orlando wouldn’t have made it to the Finals without him.

Is he worth $10 million a year heading into his thirties? Probably not. But he’ll probably earn his keep for the first few years of that contract, and that’s all the Raptors are worried about right now.

ESPN’s Chad Ford wrote a good article [Insider subscription required] about how the Knicks’ rebuilding plan has shaped up thus far.

They successfully shed Stephon Marbury, Jamal Crawford, Zach Randolph and Jerome James. But Eddy Curry and Jared Jeffries are still on the roster, and their contracts will eat up cap space in 2010. Surprisingly GM Donnie Walsh passed up a chance to trade Jeffries for Kenny Thomas’s expiring contract at the trade deadline. I have no idea why he would do that.

The Knicks also did a great job of wooing Mike D’Antoni to New York. Players love to play in his up-tempo system and he has a number of connections to NBA stars given his stint as assistant coach for Team USA.

But Ford writes that “phase 3″ of the plan has hit a few snags:

The plan was to restock the Knicks’ talent pool via the draft. Rookies have low salaries and high upside, and given the Knicks’ lack of talent the team hoped it could strike gold once or twice in the draft. While it’s still very early, things haven’t gone according to plan so far. The Knicks’ top targets the past two years have been off the draft board when they drafted.

In 2008, their two favorites — Derrick Rose and O.J. Mayo — were gone, so they settled for Danilo Gallinari. While Gallinari showed enormous promise in Europe, he hurt his back in the summer league and played sparingly for the Knicks in his rookie season while he tried to rehab. Meanwhile, the Knicks passed on several prospects in the ’08 draft — like Brook Lopez, Eric Gordon and Anthony Randolph — who look like potential stars down the road.

In 2009, Walsh and D’Antoni had their hearts set on Davidson shooting star Stephen Curry. However, the Warriors took him one place ahead of the Knicks, who settled on Arizona forward Jordan Hill. While Hill has upside, too, he’s closer to Dale Davis than Amare Stoudemire.

And what about 2010? In 2005, Isiah agreed to send that first-round pick to Phoenix as part of the Marbury trade. The Suns then traded it to Utah. There are no protections left on the pick. It’s gone.

Isn’t it a little ironic that the Knicks are struggling at the one thing (finding talent in the draft) that Isiah Thomas was good at? Gallinari may still turn out to be a player, but I’m sure Knicks fans would trade him for any number of players that the team passed up. Ford mentioned Lopez, Gordon and Randolph, but what about D.J. Augustin or Jason Thompson?

While I like Jordan Hill, it seems a little counter intuitive to draft a power forward when you already have David Lee on the roster and are potentially targeting Chris Bosh or Amare Stoudemire next summer. However, the Knicks probably view Bosh and Stoudemire as potential centers in D’Antoni’s system.

To draft Hill, the Knicks passed up Brandon Jennings, who turned in a very good summer league performance for the Bucks and has the kind of speed, quickness and vision to be a nightmare on the fast break. The team has been flirting with Ramon Sessions (also of the Bucks), but has yet to come to terms on a deal even though Milwaukee put themselves in a tough position to match any offer greater than $2 or $3 million per season. As it stands, the Knicks don’t have a point guard to run D’Antoni’s system.

And, as Ford writes, the Knicks’ plans have soured with the economy. If they are able to move both Jeffries and Curry, they would have enough to sign two max-contract players, but even then, it would be tough to fill out the roster with the limited funds available. It’s looking more and more that the Knicks aren’t going to have the talent to attract LeBron James or Dwyane Wade. Forgetting about D’Antoni and Madision Square Garden for a moment, wouldn’t LeBron and Wade, assuming they change teams, rather play in Brooklyn with Devin Harris and Brook Lopez?