Chauncey Billups signed a $60 million, five-year contract Wednesday with the Detroit Pistons, returning to the team he helped reach five straight conference finals.
The contract is worth $46 million guaranteed over four years and includes a team option for the fifth year.
Pistons president of basketball operations Joe Dumars said he was "very pleased" to have Billups back.
"We said from the beginning that re-signing Chauncey was our top priority, and now we can move forward knowing that Chauncey will continue to lead this team," Dumars told The Associated Press on Wednesday. "One of the toughest positions to fill in this business is the point guard position, and that's why it was imperative that we re-sign Chauncey."