Portis agreed to a two-year, $7.5 million deal that includes a player option for the second year, agent Mark Bartelstein of Priority Sports told ESPN's Adrian Wojnarowski. Augustin reached a three-year, $21 million deal with the Bucks, sources told ESPN.
Also, free agent guard Pat Connaughton is returning to the Bucks on a deal that is longer than originally anticipated. After agreeing to a 2-year, $8.3 million deal on Friday night, agents Jeff Schwartz and Jordan Gertler of Excel Sports Management told ESPN on Saturday that the deal was reshaped to be for three years, $16 million.
Portis became a free agent when the New York Knicks declined the $15.75 million team option for the 2020-21 season. He had signed with the Knicks as a free agent in June 2019 and averaged 10.1 points and 5.1 rebounds in 66 games in his lone season in New York.
Augustin found a home in Orlando the past four seasons, averaging 10.5 points and 4.6 assists per game for the Magic last season while seeing regular time running the point.
He is coming off a season in which both his field goal percentage (39.9) and 3-point percentage (34.8) took significant dips. And he has logged a lot of miles since being the ninth overall pick in the 2008 draft, averaging 72 games across his 12 NBA seasons.
Augustin, who turned 33 in November, can provide a veteran scoring presence off the bench.
Free agent guard Jaylen Adams also agreed to a two-way deal with the Bucks on Saturday, his agents told ESPN.