Updates below the fold.

• The Boston Celtics withdrew their qualifying offer to Greg Stiemsma, making is clear for the Wolves to sign Stiemsma as an unrestricted free agent
• The Brooklyn Nets signed C.J. Watson to play back-up point guard
• The Dallas Mavericks signed first-round draft pick Jared Cunningham, who was selected 24th overall
• The Chicago Bulls are going to decline to match Omer Asik's three-year, $25.1 million offer sheet from the Houston Rockets
• The Phoenix Suns signed P.J. Tucker to a minimum deal
• Shaq's thoughts on the Magic's coaching search (via Twitter): "Orlando magic is about to hire jock Vaugh over mike Malone or Brian shaw. are u kidding me, wow, good luck winning wit Dat team Dwite howard."
• The U.S. Women's Basketball team defeated Turkey 80-61 behind 16 points each from Seimone Augustus and Diana Taurasi
• Timberwolves.com's Mark Remme had a lot of good stuff from NBA Summer League, including this recap