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VIA ESPN:

The Detroit Pistons made the biggest early splash in free agency on Wednesday, agreeing to terms with Ben Gordon and Charlie Villanueva.

Former Bulls guard Gordon will receive a five-year deal for between $55 million and $60 million, while former Bucks forward Villanueva gets a five-year deal for $40 million, sources told ESPN.com’s Chris Broussard.

Gordon rejected deals from Chicago in excess of $50 million each of the past two seasons. Milwaukee elected to let the 24-year-old Villanueva become an unrestricted free agent earlier this week, after the Bucks determined that matching any restricted free-agent offers would move the team closer to the luxury tax threshold and limit changing the roster.

The Associated Press first reported the Villanueva signing.

I don’t have any regrets, and I don’t have any bitter feelings for the Bulls,” Gordon, according to the Chicago Tribune. “Business is business. I’m going to a situation now where winning is the No. 1 priority. I’m happy with my decision.”

Free agents can’t officially sign with new teams until July 8.

Gordon, who was taken third in the 2004 draft by Chicago, led the Bulls in scoring each of the past four seasons. He averaged 20.7 points per game on 45.5 percent shooting last year. For his career, he has a 21.3 points per game average.

Bulls officials had said re-signing Gordon was a top priority after previously failing to keep the former Connecticut star with a long-term contract.

The Bulls and Pistons always have had a great rivalry,” Gordon said, according to the Tribune. “It will be exciting going against [the Bulls], especially [in Chicago] because this is one of the best sports towns anywhere. I’m definitely going to miss the fans. But being on the other side will be fun too.”

Villanueva, the seventh overall pick by Toronto in 2006 who has played the past three seasons with the Bucks, averaged 16.2 points and 6.7 rebounds per game last season.

Detroit desperately needed to make a splash this offseason, entering it with nearly $20 million in salary-cap space and coming off its worst season in several years.

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