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Miami Heat signs former Michigan point guard to two-way contract

An hour after signing one skilled three-point shooter, the Heat added another early Monday evening, signing former Michigan standout Derrick Walton Jr. to a two-way contract.

The signing came an hour after Miami announced it signed former UCF guard Matt Williams.

Unlike Williams, Walton Jr. was signed to a two-way deal that allows Miami to retain his rights this season, with the restriction that he can spend no more than 45 days in the NBA and must spend the remainder of the time with the Heat’s D-League affiliate in Sioux Falls, South Dakota.

NBA teams can keep 16th and 17th players this season, but those players must be signed to two-way contracts.