The Latest on NBA free agency (all times EDT):
Damian Lillard won't be seeing free agency for a long time.
The Portland Trail Blazers signed their All-Star point guard to a four-year extension on Saturday — one that would be worth $196 million if Lillard exercises the final year of the deal in 2024-25, which will be at his option. He would be guaranteed well over $50 million that season.
Lillard's extension was the biggest cash deal agreed to this summer in the NBA.
Blazers President Neil Olshey says Lillard "has exemplified every quality an organization could hope for in a franchise player. His perpetual leadership, willingness to embrace responsibility for outcome on the floor and ability to set a cultural standard illustrates what it means to be a Portland Trail Blazer."
Lillard is a winner of the NBA's J. Walter Kennedy Citizenship Award and has averaged 23.5 points and 6.3 assists in his first seven seasons with Portland.
A person with knowledge of the situation says DeMarcus Cousins has agreed to a one-year deal with the Los Angeles Lakers, a move that will reunite him with his former New Orleans teammate Anthony Davis.
ESPN first reported the agreement.
Cousins agreed to the deal Saturday, said the person who spoke on condition of anonymity to The Associated Press because the Lakers had not yet announced the signing. The Lakers are expected to close a deal Saturday that will bring them Davis in exchange for players and draft picks.
Cousins averaged 16.3 points in 30 games with Golden State last season, one where he was dealing with recovery from a torn Achilles. He was also slowed in the playoffs by a quadriceps injury.
— AP Basketball Writer Tim Reynolds
Miami has waived Ryan Anderson and Orlando has waived Timofey Mozgov, both of those moves financially motivated.
Anderson had to be waived by the Heat in a move to get the team in position to swing the trade that will land Jimmy Butler as part of a four-team deal later Saturday. And shedding Mozgov's contract may keep the Magic under the luxury-tax threshold for next season.
Mozgov did not play for Orlando last year because of knee issues.
Anderson scored seven points in 10 appearances with Miami last season. He was acquired from Phoenix in February in the trade that sent Tyler Johnson and Wayne Ellington to the Suns.
The Detroit Pistons have a Morris twin again.
The Pistons signed Markieff Morris and Tim Frazier to free-agent deals Saturday. Markieff Morris comes to the Pistons after his twin Marcus Morris spent the 2015-16 and 2016-17 seasons with Detroit.
Markieff Morris was with Washington and Oklahoma City last season and is joining his fourth NBA club. The well-traveled Frazier is joining his sixth team in six seasons, after playing for New Orleans, Washington, Portland, Milwaukee and Philadelphia.
Al-Farouq Aminu has signed a three-year contract with the Orlando Magic, one that could be worth nearly $30 million.
The third year of the deal is at Aminu's option. He spent the last four seasons with Portland, and averaged 9.4 points last season. He shot 43 percent last season, his best effort from the floor since he shot 47 percent for New Orleans in 2013-14.
Terrence Ross has signed his four-year, $54 million deal to stay with the Orlando Magic.
The Magic announced the signing Saturday, not long after the league's moratorium on player movement and signings was lifted. Ross averaged a career-best 15.1 points per game last season in 81 appearances for Orlando, all off the bench.
Orlando is also expected to complete the signing of All-Star forward Nikola Vucevic to a $100 million, four-year deal later Saturday.
The NBA's moratorium on player movement and signings gets lifted on Saturday, meaning it is finally time for agreed-upon deals to become official.
Trades and free-agent signings can get finalized after 12:01 p.m. Eastern, and there are a slew of moves to get completed. Kevin Durant and Kyrie Irving are likely to sign their new contracts with the Brooklyn Nets. Kawhi Leonard is about to sign with the Los Angeles Clippers to pair up with the soon-to-be-traded Paul George, and a complex four-team deal that sends Jimmy Butler to Miami is set to get done as well.
Golden State's Klay Thompson got the biggest free-agent deal, a five-year contract worth nearly $190 million. Portland's Damian Lillard agreed to a $196 million extension, but was not a free agent.