O.J. Mayo announced on his Twitter feed Monday night that he will sign with the Dallas Mavericks, joining a roster that has been drastically overhauled this offseason.

I will be signing with dallas! #Mavsnation

— OJ Mayo (@JuiceMayo32) July 17, 2012

Yahoo Sports’ Marc J. Spears reported on Sunday that the free agent Mayo had also drawn interest from the Los Angeles Lakers, Chicago Bulls and Phoenix Suns. The Suns had been expected to make a strong push after losing out on restricted free agent Eric Gordon, whose offer sheet was matched by the New Orleans Hornets.

The 24-year-old Mayo earned $5.6 million last season with the Memphis Grizzlies, and terms of the deal weren’t immediately disclosed. He averaged 12.6 points and 3.2 rebounds per game last season with the Grizzlies.

The Mavericks have claimed forward Elton Brand off waivers and signed center Chris Kaman and now Mayo after losing out on their biggest free-agent target, Brooklyn Nets guard Deron Williams. Dallas also picked up shooting guard Dahntay Jones and point guard Darren Collison. They lost guards Jason Terry to the Boston Celtics and Jason Kidd to the New York Knicks in free agency.

UPDATE (12:40 a.m. ET): ESPN.com’s Jeff Caplan that Mayo’s deal is for two years. The second year is a player option.

Mayo deal is 2 years with second being a player option.

— Jeff Caplan (@ESPN_Caplan) July 17, 2012

Meanwhile, Mavs owner Mark Cuban replied to Mayo via Twitter to welcome his team’s newest addition:

@JuiceMayo32. Welcome to the family OJ. We are fired up !! MFFL Mavs/Mayo Fan For Life !

— Mark Cuban (@mcuban) July 17, 2012

O.J. Mayo reportedly has interest from the Bulls, Lakers, Mavs and Suns. (Joe Murphy/Getty Images)

Memphis Grizzlies unrestricted free agent O.J. Mayo has the interest of the Los Angeles Lakers, Dallas Mavericks, Chicago Bulls and Phoenix Suns and will make a decision by July 24, according to a tweet from Marc J. Spears of Yahoo! Sports.

Marc Stein of ESPN.com tweeted on July 11 that if the New Orleans Hornets match the offer sheet for guard Eric Gordon, Mayo would be “courted hard” by the Suns. The Hornets did, in fact, match the Suns’ offer sheet for Gordon, offering him $58 million over four-years.

The Suns now hope to pair either Mayo or Rockets unrestricted free agent Courtney Lee with newly acquired Goran Dragic, who played with Lee in Houston last season.

Mayo, who made $5.6 million last season with the Grizzlies, is one of the more talented scoring guards to enter this summers free agent class. He averaged 18.5 points in the 2008-09 season as a rookie, but scored only 12.6 points in 26 minutes per game last season.

Free agent G OJ Mayo getting interest from Lakers, Chicago, Phoenix and Dallas and hopes to make decision in next 10 days, source tells Y!—
Marc J. Spears (@SpearsNBAYahoo) July 14, 2012

O.J Mayo and Courtney Lee are two names at the top of Suns' list of guards to pair with Goran Dragic now that they've lost out on Gordon—
Marc Stein (@ESPNSteinLine) July 14, 2012

If Hornets match PHX offer sheet to Eric Gordon, as they've vowed, desert sources say this is definite: OJ Mayo will be courted hard by Suns—
Marc Stein (@ESPNSteinLine) July 11, 2012

The Boston Celtics are interested in free agent guard Jason Terry. (Danny Bollinger/Getty Images)

The Boston Celtics are interested in signing free agent Jason Terry, but the team’s first priority will be bringing back its own free agents, reports the Boston Herald‘s Mark Murphy.

The Celtics have already re-signed center Kevin Garnett. The next target for the team is shooting guard Ray Allen, who is reportedly meeting with the Miami Heat and Los Angeles Clippers this week. If the team loses Allen, Terry would be a possible replacement.

Murphy reports that Terry would consider signing for the full mid-level exception of $5 million.

Terry, who helped lead the Dallas Mavericks to the NBA title last season, would provide the shooting and scoring punch the Celtics need. The 34-year-old Terry, the NBA Sixth Man of the Year in 2009, has averaged more than 15 points per game in each of the past seven seasons.

The Celtics are likely out of the running for Memphis Grizzlies guard O.J. Mayo, though, Murphy reports. Mayo wants more than the mid-level exception that the Celtics could offer.

The New Jersey Nets have offered two potential trades to the Memphis Grizzlies for guard O.J. Mayo, sources have told the New York Post.

In one trade, the Nets would reportedly send point guard Jordan Farmar and a draft pick in return for Mayo. In another, the team would straight up trade Anthony Marrow for the former lottery pick, the Post reports.

The 3-10 Nets are in desperate need of scoring power after last year’s leading scorer, Brook Lopez, suffered a stress fracture in his right foot during preseason. While Mayo has seen his role diminish over time with the Grizzlies, it is still believed that the 24-year-old can be a major scorer in this league.

Mayo averaged 16.0 points per game in his first three seasons since the Grizzlies selected him No. 3 overall in the 2008 NBA draft. The former USC standout saw his role with the club begin decline last season, however, seeing his minutes per game drop from 38:00 in 2009-10, to 26:28 in 2010-11. Mayo averaged just 11.3 points and 2.4 assists per game in limited playing time in 2010-11, marking career worsts in every major offensive category.

This season Mayo has played in just 23:36 minutes per game and is averaging just 10.7 points.

The Indiana Pacers have decided to waive James Posey and his $6.9 million contract under the league’s new amnesty clause, Adrian Wojnarowski of Yahoo! Sports tweets.

Under the new collective bargaining agreement agreed on by the owners and players earlier this month, teams are allowed to waive one player from their team and remove that contract from their salary cap. Teams will now soon be allowed to place bids on Posey during the amnesty waiver process.

The Pacers’ move to waive Posey under the amnesty clause comes after they have reportedly traded for former first round pick OJ Mayo.

The 34-year-old veteran has played with seven different NBA teams since being drafted in the first round by the Denver Nuggets in 1999.  Over his career, Posey averages 8.6 PPG, 1.6 assists and 4.7 rebounds.

The Memphis Grizzlies have traded former first round pick OJ Mayo to the Indiana Pacers, Hoopsworld.com reports. The Pacers will reportedly send Josh McRoberts and Brandon Rush to Memphis in return.

The Pacers have been attempting to acquire Mayo for some time now. At the trade deadline last year, the Pacers set up a three-team deal with the New Orleans Hornets but the Hornets pulled out of the negotiations.

Mayo, 24, has averaged 16.0 points per game in his first three seasons since the Grizzlies selected him No. 3 overall in the 2008 NBA draft. The former USC standout saw his role with the club decline last season, however, seeing his minutes per game drop from 38:00 in 2009-10, to 26:28 in 2010-11. Mayo averaged just 11.3 points and 2.4 assists per game in limited playing time, marking career worsts in every major offensive category.

With the acquisition of Mayo, the Pacers have no added to players in two days who have averaged 17-or-more points per game within the last two seasons. The club also signed Hornets star David West to a two-year deal this weekend.

The Memphis Grizzlies have discussed trading former first round pick O.J. Mayo to the Indiana Pacers for role players Josh McRoberts and Brandon Rush, according to Mike Wells of the Indianapolis Star.

The Pacers, who clinched the final playoff spot in the Eastern Conference last season with a 37-45 record, have been busy during the NBA’s shortened offseason. This weekend they signed former All-Star big man David West to a two-year $20 million deal, and now they have appeared to set their sights on the scoring prowess of Mayo.

Mayo, 24, has averaged 16.0 points per game in his first three seasons since the Grizzlies selected him No. 3 overall in the 2008 NBA draft. The former USC standout saw his role with the club decline last season, however, seeing his minutes per game drop from 38:00 in 2009-10, to 26:28 in 2010-11. Mayo averaged just 11.3 points and 2.4 assists per game in limited playing time, marking career worsts in every major offensive category.

The Pacers had just two backcourt players average 10-or-more points per game last season. The acquisition of Mayo would drastically relieve the scoring load from standout swingman Danny Granger.