Telfair will reportedly make the league minimum salary, and the contract is non-guaranteed.
A former high school phenom out of Brooklyn, Telfair skipped college and jumped straight to the NBA, and was picked in the first round of the 2004 NBA draft by the Portland Trail Blazers. But Telfair never quite reached the star status that many thought he would when he was a highly-touted young player.
All told, Telfair has played for seven different teams over his nine NBA seasons. His best stretch came with the Minnesota Timberwolves from 2007-09, when he averaged 9.6 points and 5.2 assists in 134 games over those two seasons.
Unable to latch on with a team for the 2013-14 season, Telfair spent the year with Tianjin of the Chinese Basketball Association, averaging 26 points and 5.9 assists.