(CBS) Shooting guard Lance Stephenson has signed a three-year, $27-million deal with the Hornets, ESPN.com reported Wednesday morning, dashing a major blow to the Pacers, who he’d played his first four NBA seasons for.

The talented-yet-volatile Stephenson was reportedly offered a five-year, $44-million deal from Indiana, but he felt he was worth more and continued to gauge the market. Turns out, that was pretty much what his value was, and he instead chose to sign with Charlotte, which has a forceful inside presence in Al Jefferson but was in great need of a perimeter playmaker and shooter.

Stephenson averaged 13.8 points, 7.2 rebounds and 4.6 assists while shooting 35 percent from 3-point land last season. He’s also a quality defender.

Watch & Listen LIVE