Roundup: Miller staying in Denver, Asik to Houston?

The NBA free agency period is officially underway.

Teams began contacting available players at 12:01 a.m. early Sunday. Since, several players have made news by agreeing to terms on deals, and several teams have made waves with robust contract offers. (Players can't officially sign free agent contracts or offer sheets until July 11.)

Some of the notable news:

As first reported by SI.com's Sam Amick (who you should follow on Twitter here), Roy Hibbert was offered a maximum contract by the Blazers early Sunday. The deal would be worth $58 million over four years, according to Amick. Hibbert is expected to sign the offer sheet, according to Amick; at that point. the Pacers have three days to match the deal.

Celtics president of basketball operations Danny Ainge confirmed reports from Sunday that Kevin Garnett will return to the Celtics next season. Boston.com reports that the two sides agreed on a three-year deal.

The Nets made the first big splash of the free agent period Sunday, agreeing to terms on a four-year, $40 million deal with Gerald Wallace. Wallace was acquired by the Nets in a trade-deadline deal.

Andre Miller appears to be the first marquee point guard off the board in free agency. Miller, who backed up Ty Lawson last season with the Nuggets, will return to the team on a three-year deal, according to the Denver Post.

If you're seven feet tall, it doesn't matter if you only averaged 3.1 points and 5.3 rebounds last year: you're going to get paid. Just ask Omer Asik. The 25-year-old center -- whose numbers were strong considering his limited playing time -- was offered a three-year, $25 million deal by the Rockets, according to reports. Asik is expected to sign the offer sheet; at that point, the Bulls have three days to match Houston's offer.

Young 76ers power forward Lavoy Allen, who burst on to the scene in the playoffs averaging 6.3 points and 4.9 rebounds in 19.7 minutes per game, looks to be staying put. The Philadelphia Inquirer reports that the two sides agreed on a two-year, $6 million deal.

Track up-to-the-minute news with Newsday's free agent tracker.