JULY 13th: The Bucks officially announced the deal.
JULY 5th: The Bucks have reached agreement on a three-year, $24MM deal with O.J. Mayo, reports Adrian Wojnarowski of Yahoo! Sports. The two sides have appeared close to a deal over the past two days.
Several teams have been in on Mayo since free agency began, including the Wolves and Clippers, both of whom appeared willing to engage in sign-and-trade scenarios with the Mavs. Instead, it's Milwaukee, with plenty of cap space following the departure of J.J. Redick, taking him on straight up. The Jazz, Blazers, Bobcats, and Bulls were all linked to the Landmark Sports Agency client as well.
Monta Ellis appears to be drawing significant interest from the Nuggets and other teams, so Mayo could step into a starting role in Milwaukee. Brandon Jennings is also a free agent, but he's restricted, so the Bucks can match offers from other teams for him. He figures to give the team some scoring punch to offset the production headed out the door. Mayo averaged 15.3 points and shot a career-best 40.7% from three-point range last season.
To me this screams “Tradable Contract” not long term investment.