Reports: Mike Smith acquitted

Los Angeles Clippers announcer Mike Smith was acquitted Tuesday of grand theft, according to multiple media reports.

He had been charged with stealing $735,000 from a golfing buddy in a development deal gone bad.

An Orange County jury took two hours to return the verdict. Smith would have faced up to five years in prison if he had been found guilty.

"I'm relieved, obviously, but mostly I'm just grateful to the judge and jury who saw to it [that] the truth came out," Smith told the Beverly Hills Courier. "This was a very difficult thing to go through for me and my family."

This case marks the second time that Smith, a former Clipper who also played for the Boston Celtics, has found himself in hot water.

In November of 2009, he was suspended for one game by Fox Sports Prime Ticket network for inappropriate comments about Iranian-born Memphis Grizzlies center Hamed Haddadi.