CHARLOTTE - The Charlotte Hornets signed former Tar Heel Marcus Paige to a two-way contract on Wednesday.

A two-way contract, new with the league's most recent Collective Bargaining Agreement, permits signees to spend a maximum of 45 days on the NBA roster, spending the rest of their time in the G-League.

“I’m very excited," Paige said. "I get to be back in North Carolina and work with a great organization and I’m just very excited for the opportunity to get my foot in the door." said Paige.

Paige, a 6-foot point guard, averaged 13.1 points, 2.8 rebounds, 4.3 assists and 1.4 steals in four seasons at UNC from 2012-16. He led the team to the National Championship game in 2016, but the Tar Heels fell to Villanova despite late-game heroics from Paige.

Paige was selected 55th overall by the Brooklyn Nets in the 2016 NBA Draft, and traded to the Utah Jazz. He played for the Jazz's G-League affiliate, the Salt Lake City Stars, averaging 12.1 points and 2.3 assists per game.

The Hornets also signed 6-foot-10 forward Mangok Mathiang to a two-way contract.