Dallas, TX (SportsNetwork.com) - The Dallas Mavericks announced Tuesday they have re-signed franchise great Dirk Nowitzki and signed restricted free-agent forward Chandler Parsons.
The Mavericks didn't announce terms of the deals, which had been previously reported.
ESPN.com said Nowitzki signed for three years and $25 million, rebuffing offers from other teams and taking a paycut to help Dallas sign Parsons.
Parsons agreed to a reported three-year, $46 million offer sheet with the Mavs last week that was not matched by his former team, the Houston Rockets.
Nowitzki, 36, has been an All-Star 12 times in 16 seasons with the Mavericks and led them to an NBA title in 2011.
He averaged 21.7 points in 80 games this past season -- a spike of more than four points over 2012-13.
Nowitzki and the Mavericks took the eventual NBA-champion San Antonio Spurs to seven games in the first round of the playoffs before being ousted in a blowout.
He has averaged 22.5 points and 8.1 rebounds in 1,188 career games for Dallas and ranks 10th on the NBA's all-time points list with 26,786. He was named NBA MVP in 2007.
Parsons, 25, has averaged 14.1 points and 5.2 rebounds over three seasons with Houston, including a career-high 16.6 points this past season.