Eddie House has exercised his option clause with the Miami Heat for the 11-12 season.

House is now under contract for $1.4 million.

The Milwaukee Bucks have exercised the fourth-year contract option on guard Brandon Jennings (6-1, 169) and the third-year contract option on forward Larry Sanders (6-11, 235), General Manager John Hammond announced on Wednesday.

Jennings, 21, appeared in 63 games (61 starts) last season, averaging a career-high 16.2 points with 4.8 assists, 3.7 rebounds and 1.5 steals in 34.4 minutes per contest. He recorded his first career triple-double (20 points, 10 assists, 10 rebounds) in a 98-88 win over Charlotte on October 30, making him one of just two NBA players (Elgin Baylor) to score 50+ points in a game and have a triple-double in their first 100 NBA games. In his two NBA seasons, Jennings has played in 145 games (143 starts), averaging 15.8 points, 5.3 assists and 3.6 rebounds.

Sanders, 22, played in 60 games (12 starts) last season, averaging 4.3 points, 3.0 rebounds and 1.2 blocks in 14.5 minutes per game. He recorded multiple blocks in 20 games and in just his 13th NBA game, had eight blocks to go along with 14 points and a career-high 10 rebounds against Denver on December 1. His eight blocks tied for the second-highest single game total in the 2010-11 season. Sanders ranked fifth (3.96) in the NBA in blocked shots per 48 minutes (58 or more games played).

The Boston Celtics announced today that they have exercised a contract option on guard Avery Bradley for the 2012-13 season. Per team policy, terms of the deal were not disclosed.

Bradley, a 6’2” guard, averaged 1.7 points in 5.2 minutes per game this past season for the Celtics. The 19th overall pick in the 2010 NBA Draft appeared in 31 games for the Celtics and netted a season-high of 20 points on 10-of-16 shooting in the final game of the season against New York on April 13. Bradley also made nine appearances for the Maine Red Claws of the NBA Development League and averaged 17.1 points, 4.8 rebounds, 5.2 assists and 3.0 steals in those contests.

The Golden State Warriors announced today that the team has exercised the fourth-year contract option on guard Stephen Curry and the third-year contract option on forward Ekpe Udoh, which are both for the 2012-13 NBA season.

Curry, 23, appeared in 74 games last season, averaging 18.6 points, 3.9 rebounds, 5.8 assists and 1.47 steals in 33.6 minutes per contest, while leading the NBA in free throw percentage (.934) and ranking third in three-point percentage (.442). Overall in two NBA seasons, the 6’3” guard has appeared in 154 games, averaging 18.0 points, 4.2 rebounds, 5.9 assists and 1.69 steals in 35.0 minutes per contest.

Udoh, 24, appeared in 58 games last season, averaging 4.1 points, 3.1 rebounds and 1.48 blocks in 17.8 minutes per contest during his rookie campaign. The 6’10” forward started 18 games on the season, averaging 5.7 points, 4.3 rebounds and 2.28 blocks in 25.5 minutes in those assignments.

The Chicago Bulls announced today the team has exercised its fourth-year option for the 2012-13 season for forward Taj Gibson.

In two seasons with Chicago, Gibson (6-9, 225) has appeared in 162 games (89 starts) and averaged 8.0 ppg, 6.6 rpg, and 1.30 bpg in 24.4 mpg; he has shot .485 from the field and .659 from the line. The Bulls selected Gibson in the first round (26th overall) in the 2009 NBA Draft.

The Oklahoma City Thunder have signed center Nazr Mohammed to a contract extension, it was announced today by Executive Vice President and General Manager Sam Presti. Per team policy, the terms of the agreement were not disclosed.

“We are pleased to be able to keep Nazr in the Thunder family,” said Presti. “He is a valuable part of our organization both on and off the floor. His professionalism, experience, and on-court play have had a positive impact on our young and evolving roster.”

Mohammed (6-10, 250) owns career averages of 6.9 points, 5.4 rebounds in 17.9 minutes in 771 career NBA games.

The Oklahoma City Thunder has exercised contract options on five players Executive Vice President and General Manager Sam Presti announced today.

The Thunder exercised its fourth-year options on guard James Harden, forward Serge Ibaka, guard Eric Maynor and center Byron Mullens, as well as its third-year option on center Cole Aldrich.

Bryan Colangelo told QMI Agency on Saturday afternoon that Leandro Barbosa has picked up his $7.6 million U.S. player option for the 2011-12 season with the Raptors.

Barbosa had considered returning to his native Brazil in light of a potential work stoppage.

Both sides have expressed interest in renegotiating his current deal.

After an impressive pre-draft workout, the Miami Heat moved Norris Cole, their rookie point guard out of Cleveland State, up their draft board.

“There wasn’t anybody we’ve had in a number of years who took it more seriously,” Riley said. "His speed, acceleration and ability to be a game-changer and pace-changer."

The Nets front-office, led by head coach Avery Johnson, doled out a heavy amount of praise for rookie guard Marshon Brooks in an introductory press conference.

Johnson said he hopes Brooks can break into the Nets’ playing rotation next season, and he said Brooks and Anthony Morrow “are going to be very competitive at the two-guard spot.”