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Heat sign Greg Oden

Miami, FL (Sports Network) - The Miami Heat have officially signed former No. 1 draft pick Greg Oden, who hasn't played a game in the NBA the last three seasons due to injuries.

It was reported last week that it's a two-year contract. The second year has a player option.

"I am very excited and happy to be here," Oden said. "I'm thankful to the Miami Heat organization for bringing me in and I'm ready to get to work."

Since being taken as the top overall pick by Portland in 2007, Oden has played in only 82 contests. The Trail Blazers waived Oden on March 15, 2012. That was after he made nearly $23.3 million in salary.

The 7-foot Oden will join a team that has won back-to-back NBA titles and consists of LeBron James, Dwyane Wade and Chris Bosh.

Oden has had three microfracture surgeries on his knees, most recently on Feb. 20, 2012. The last game Oden appeared in was Dec. 5, 2009. He averaged 8.9 points and 7.0 rebounds in his first season in the league and then 11.1 points and 8.5 boards in 21 contests in the 2009-10 campaign.

"After many months of discussion, evaluations and speaking with Greg, we felt it was the perfect time for him to make his comeback and re-enter the NBA with the Miami Heat," team president Pat Riley said.

"It's a great challenge for him," Riley added. "We know all about his past injuries, but we feel that there is a huge upside and the possibility of him helping us. We will continue his program and then we will tackle basketball issues after that."

08/07 13:54:11 ET