Lopez received a three-year deal worth $60 million, while Young's deal is four years and $50 million, according to Yahoo! Sports' Adrian Wojnarowski. Both have a player option in the final year of their new deals.
No new contracts can be signed until July 9 when the NBA’s moratorium is lifted. Both players opted out of the final year of their contracts and became unrestricted free agents.
The Nets made several moves in preparation for free agency, trading Mason Plumlee to the Portland Trail Blazers on draft night in exchange for the draft rights of Rondae Hollis-Jefferson and veteran guard Steve Blake.
Lopez, 27, has spent each year of his career with the Nets since being selected in the first round of the 2008 NBA draft. He played in 72 games last season, averaging 17.2 points, 7.4 rebounds and 1.8 blocks per game.
The 27-year-old Young joined the Nets at the trade deadline in a deal that sent Kevin Garnett back to the Minnesota Timberwolves. In 28 games with the Nets, Young averaged 13.8 points while shooting 49.5% from the floor.
The Nets finished 38–44 last season and lost in the first round of the playoffs in six games to the Atlanta Hawks.
- Scooby Axson