The Hornets have re-signed 25-year old center Aaron Gray to a 2-year deal. Gray played in 24 games (0 starts) for the Hornets last season and he averaged 10.9 minutes, 3.6 points, 3.8 rebounds and 0.8 assists per game. He has now played in 149 games (19 starts) in his three years in the NBA and he is averaging 11.0 minutes, 3.8 points, 3.3 rebounds and 0.7 assists per game. This was a solid move for the Hornets as I’m sure they didn’t have to break the bank to bring Gray back.

The Hornets have signed 27-year old shooting guard Luther Head to a 2-year, $2.3 million dollar deal. Head played in 47 games (10 starts) for the Pacers last season and he averaged 17.3 minutes, 7.6 points, 1.7 rebounds and 1.5 assists per game. He has now played in 312 games (68 starts) in his five years in the NBA and he has averaged 23.1 minutes, 8.5 points, 2.5 rebounds and 2.2 assists per game. This was a outstanding signing for the Hornets as Head will bring instant offense off the bench for them in the next couple of years.

UPDATE: The Hornets have rescinded their offer to Luther Head due to physical reasons.

33-year old small forward Peja Stojakovic is opting in for the 2010-11 season for the New Orleans Hornets. He would have been insane to opt out as he is due to make $15.34 million bucks this season. Stojakovic’s play slipped a little bit last season for the Hornets. He played in 62 games (55 starts) for the Hornets last season and he averaged 31.4 minutes, 12.6 points, 3.7 rebounds and 1.5 assists per game. Stojakovic has now played in 212 games (204 starts) in his four years with the Hornets and he has averaged 33.8 minutes, 14.6 points, 4.1 rebounds and 1.3 assists per game. The Hornets hope Stojakovic has something left seeing how they are on the hook to him for big bucks.

The Hornets have acquired PF/SF Craig Brackins (#21 overall) and SF Quincy Pondexter (#26 overall) to complete the Cole Aldrich/Morris Peterson trade with the Thunder. Brackins is a big guy at 6’10″, 230 pounds but he will need to play tougher in the NBA. Brackins played in 32 games (all starts) last season at Iowa State and he averaged 16.5 points, 6.4 rebounds, 2.2 assists and 1.2 blocked shots per game. He played in 96 games (95 starts) in his three years in college and he averaged 16.3 points, 6.0 rebounds, 1.6 assists and 1.0 blocked shot per game. Quincy Pondexter played in 36 games (all starts) last season at Washington and he averaged 19.3 points, 7.4 rebounds, 1.8 assists and 1.3 steals per game. He finished up in college having played in 136 games (102 starts) in which he averaged 13.1 points, 5.6 rebounds and 1.7 assists per game. The Hornets have a good track record in the draft so this could turn out to be a outstanding trade for them. Only time will tell.

The Hornets picked center Cole Aldrich out of Kansas with the 11th overall pick and then they traded him along with 32-year old small forward Morris Peterson to the Thunder for the 21st and 26th overall picks in the NBA Draft. Peterson played in 46 games (39 starts) for the Hornets last season and he averaged 21.2 minutes, 7.1 points, 2.7 rebounds and 0.9 assists per game. In his three years with the Hornets, Peterson played in 165 games (124 starts) in which he averaged 19.9 minutes, 6.8 points, 2.5 rebounds and 0.8 assists per game. This was little more than a salary dump move for the Hornets as Aldrich and Peterson will make a lot more money in 2010-11 than whoever the Hornets use their two first round picks on.

32-year old PF Darius Songaila has exercised his player option for the 2010-11 season allowing him to return to the Hornets. Songaila played in 75 games (1 start) for the Hornets last season and he averaged 18.8 minutes, 7.2 points, 3.1 rebounds and 0.9 assists per game. He has now played in 485 games (79 starts) in his seven years in the NBA and he is averaging 18.9 minutes, 7.0 points, 3.5 rebounds and 1.2 assists per game. The Hornets probably could have used the money elsewhere but Songaila is a decent backup forward.

The Hornets have signed 38-year old Monty Williams to a 3-year deal to be the new head coach of the New Orleans Hornets. He has a lot of winning in his background. He started coaching with the Spurs in 2004-05 and they won the NBA Championship that year. Williams then went on to be a assistant with the Portland Trailblazers from 2005-06 to 2009-10. I think Williams will do a good job for the Hornets as he hopefully learned well under Gregg Popovich and Nate McMillan.

The Hornets have signed 31-year old point guard Jason Hart to a 10-day contract. Hart played in 1 game earlier this season for the T-Wolves in which he played 5 minutes, had 1 assist and 1 steal. Hart has now played in 337 games (56 starts) in his NBA career and he is averaging 15.6 minutes, 4.8 points, 1.7 rebounds and 2.3 assists per game. This was a smart move by the Hornets to bring in a veteran hand to work behind Darren Collison until Chris Paul is ready to return to action.

The Hornets have traded 25-year old SG/PG Bobby Brown to the Clippers for a conditional 2nd round pick. Brown played in 22 games (0 starts) for the Hornets this season and he averaged 14.9 minutes, 6.6 points, 0.8 rebounds and 2.1 assists per game on 39.5% shooting from the floor. The Hornets have enough depth at guard to pick up for not having Brown and this trade likely gets them under the luxury tax.

The Hornets have traded 31-year old shooting guard Devin Brown to the Bulls for 25-year old center Aaron Gray. Brown played in 39 games (37 starts) for the Hornets this season and he averaged 24.8 minutes, 9.7 points, 2.8 rebounds and 1.5 assists per game on 39.4% shooting from the floor. Rookie Marcus Thornton will replace Brown in the starting line-up. Thornton has played in 37 games (0 starts) this season for the Hornets and he is averaging 18.6 minutes, 9.4 points, 2.0 rebounds and 0.9 assists per game on 42.4% shooting from the floor. Aaron Gray will serve as Emeka Okafor’s back-up center. He played in only 8 games (0 starts) for the Bulls this season and he was averaging 6.3 minutes, 2.3 points, 2.0 rebounds and 0.3 assists per game. Gray was only shooting 38.1% from the floor and 28.6% from the free throw line this year. He has now played in 215 games (19 starts) in his NBA career and he is averaging 11.0 minutes, 3.8 points, 3.2 rebounds and 0.7 assists per game. Gray has made 49% of his shots from the floor in his career and 55.8% of his free throws.