Lance Stephenson has signed a three-year, $27 million deal to play for the Charlotte Hornets, according to league sources.

The deal was signed early Wednesday morning after Hornets owner Michael Jordan, general manager Rich Cho and coach Steve Clifford met with Stephenson and his representatives Tuesday night in Las Vegas.

The contract, which includes a team option for the final season, ends Stephenson's productive yet volatile stay with the Indiana Pacers.