INDEPENDENCE, Ohio — Even when he opted to become a free agent, Anderson Varejao thought his best option was to remain a Cleveland Cavalier.

Less than a month after declining an option year on his contract, Varejao signed a six-year deal that could pay him $50 million with incentives, but averages closer to $7 million annually. It's a raise over the $6.2 million he was set to earn under the previous deal, but also leaves the Cavaliers with financial flexibility in the years ahead.

"Our priority was Cleveland," the 6-foot-11 Varejao said. "I know we had some other teams (interested), but I wanted to come back. I believe we have a great organization, a great team and we have a chance to win a championship."

GRIZZLIES

Stackhouse waived: Memphis waived Jerry Stackhouse yesterday, one day after acquiring the NBA veteran in a four-team, eight-player trade.

General Manager and Vice President of Basketball Operations Chris Wallace announced the move yesterday after Thursday's blockbuster deal involving the Grizzlies, Dallas, Toronto and Orlando.

JAZZ

Okur gets 2-year extension: Utah and center Mehmet Okur have agreed on a two-year contract extension that runs through 2012. Terms of the deal were not released.

Okur is entering the last year of the original deal he signed with Utah as a free agent in 2004. He could have opted out of the final season, but decided on the final day to stay with the Jazz.

MAGIC

Bass reportedly will sign: Former Dallas Maverick Brandon Bass agreed yesterday to sign with the Orlando Magic, according to a person with knowledge of the decision.

The person was granted anonymity because the Magic had not made an announcement. NBA.com, which first reported the signing, said it was a four-year deal for $18 million.

SUNS

Stoudemire has eye surgery: Phoenix forward Amare Stoudemire had outpatient surgery on his right eye yesterday , a procedure which was part of the recovery process from a Feb. 20 operation to repair a partially detached retina.

The Suns also announced that Grant Hill decided to remain in Phoenix and first-round pick Earl Clark signed a contract.

TIMBERWOLVES

Two first-rounders sign: Minnesota has signed first-round draft picks Jonny Flynn and Wayne Ellington, the team announced yesterday.

NBA rookie contracts are dictated by draft position, so Flynn will earn at least $2.47 million next season as the No. 6 overall pick and Ellington at least $836,000 as the No. 28 pick.

TRAIL BLAZERS

Rookie Mills breaks foot: Portland draft pick Patty Mills broke his right foot during practice and won't play in the NBA's summer league.

The Blazers said yesterday that Mills, the 55th overall pick in the draft, fractured the fifth metatarsal in his right foot during practice Thursday night. He will have surgery on his foot on Monday, the team announced.