Trail Blazers cut ties with Francis

The Portland Trail Blazers have agreed on a buyout with guard Steve Francis, who was acquired in a draft-night deal with the New York Knicks.

Francis, who was due $34 million over the final two years of his contract, was expected to clear waivers and become an unrestricted free agent.

The Clippers are thought to be one of the teams interested in signing Francis.

The terms of the buyout with the Trail Blazers were not released. The deal was confirmed Wednesday by the Washington office of Francis’ longtime agent, Jeff Fried.

The Trail Blazers acquired Francis and Channing Frye from the Knicks in exchange for Zach Randolph, Dan Dickau and Fred Jones on June 28.

In another move, the Trail Blazers and the Phoenix Suns completed a deal that sent James Jones and the draft rights to Spanish guard Rudy Fernandez to Portland for $3 million and other considerations. Fernandez was the 24th overall pick in the draft.

Guard Chauncey Billups signed a $60-million, five-year contract with the Detroit Pistons, returning to the team he helped reach five consecutive Eastern Conference finals.

The contract is worth $46 million guaranteed over four years and includes a team option for the fifth year.

Gerald Wallace and the Charlotte Bobcats reached an agreement in principle, executive vice president of basketball operations Bernie Bickerstaff said. Wallace, who turns 27 later this month, led the Bobcats with 18.1 points a game last season.

The Toronto Raptors signed Jason Kapono, who agreed to a multiyear deal with the Raptors on July 1.

TENNIS

Top-seeded Davydenko gets upset in Gstaad

Gael Monfils upset top-seeded Nikolay Davydenko, 3-6, 6-4, 7-5, in the first round of the Swiss Open at Gstaad. They were tied at 5-5 in the third set on Tuesday when rain forced the match to be suspended.

Stefan Koubek upset second-seeded Mikhail Youzhny, 6-4, 6-3, and third-seeded Richard Gasquet defeated Ruben Ramirez, 6-3, 6-4.

Second-seeded Vince Spadea advanced to the quarterfinals of the Hall of Fame Championships at Newport, R.I., by defeating Paul Capdeville, 6-3, 7-5.

In other matches, fourth-seeded Fabrice Santoro defeated Alexander Peya, 6-4, 6-1, and Dick Norman beat eighth-seeded Michael Berrer, 6-2, 6-7 (4), 7-6 (6).

Serena Williams is pulling out of the United States’ Fed Cup semifinal against Russia at Stowe, Vt., this weekend because of a hand injury she suffered last week at Wimbledon.

Williams will be replaced on the U.S. roster by Meilen Tu, who flew to Vermont to join the rest of the squad, a person at the U.S. Tennis Assn. told the Associated Press.

Venus Williams has joined the list of top women players who’ll be competing in the Acura Classic, set for July 28-Aug. 5 at La Costa.

Justine Henin, Jelena Jankovic, Maria Sharapova and Ana Ivanovic also will compete.

JURISPRUDENCE

Former Michigan player is convicted in assault

One former Michigan football player has been convicted and another has been cleared of charges stemming from an attack on a fellow student.

Chris Richards, who played at North Hills Monroe before joining the Wolverines, was found guilty of aggravated assault and assault and battery, while Carson Butler, of Detroit, was cleared.

MISCELLANY

USC releases recruit from letter of intent

USC has released Leonard Washington from his national letter of intent, freeing the 6-foot-6 freshman forward from Lake Charles, La., to play basketball for another school during the 2007-08 season.

Washington has reportedly visited Kentucky and told a Kentucky radio station that he was also considering Arizona, Washington, Oregon and USC.

-- Ben Bolch

U.S. Soccer’s national council has appointed California Speaker of the House Fabian Nunez as the second of three members of its Board of Directors.

Goaltender Henrik Lundqvist and the New York Rangers avoided salary arbitration by agreeing to terms on a one-year contract worth $4.25 million.