Phil Miller of the Salt Lake Tribune reports that the Jazz have signed veteran point guard Mark Jackson to a one-year, $1 million  contract. Jackson was waived by the Nuggets when they bought  out his contract last week. After clearing waivers, the Jazz signed the 15-year veteran.

"We were hoping this would fall into place," Jazz vice president of basketball operations Kevin O'Connor said after Jackson struck a deal with the Jazz. "It's a good feeling."

The Jazz were on the lookout for a veteran to back up John Stockton and had all summer to sign someone. O'Connor sorted through dozens of free-agent guards over the summer, looking for a pass-first point guard who was still an offensive threat. He watched as other candidates signed elsewhere, gambling that he could land a big name at the end. He signed second-year pro Carlos Arroyo as a long-term investment and short-term insurance, but hunted for something bigger.

It worked out better than he had hoped as Jackson fell into his lap. "If this had happened two months ago, there would have been a lot of other people vying for his services," O'Connor said. "But they have all filled their slots."

"He'll be in our rotation," O'Connor predicted. "Last year, he played extremely well. We know [because of his age], he probably can't play 40 minutes a night, but we're not asking him to do that. The fact that we've got a guy who knows how to play, who has been in the wars, who is a big guard -- it's all positive."

Jazz doctors will examine Jackson this morning, and if he passes the physical, the St. John's graduate could be in uniform for this evening's practice.