"The New Orleans Hornets signed high school guard J.R. Smith, their first-round pick in the June draft, to a three-year contract worth $3.1 million."

Smith, 18, was one of 8 highschool players selcted in the first round of this years draft.

"Smith will make his pro debut in the Southern California Summer League in Long Beach from July 12-18."

"The Hornets have yet to sign second-round pick Tim Pickett of Florida State."