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3 most regrettable deals from Day 1 of free agency

Jesse D. Garrabrant / National Basketball Association / Getty

Owners didn't hold back during the opening day of free agency, shelling out more than $1.7 billion on July 1.

While some of Friday's deals were representative of fair market value, others were clear overpays from teams desperate for talent.

Here are the three most regrettable contracts from Day 1:

Solomon Hill (4 years, $52 million with Pelicans)

After averaging just 4.2 points and 2.8 rebounds during the regular season, Solomon Hill turned his hot-shooting performance in this year's playoffs into a cool $52 million on July 1.

While it's not surprising Hill received a pay raise after hitting 57.9 percent of his long bombs during the first round, the California native's career 3-point percentage (.325) suggests he's likely fools gold.

On the other end of the floor, Hill's a capable, but not exceptional defender, ranking 23rd among small forwards in ESPN's defensive real plus-minus (0.39). The 25-year-old's versatility reportedly drew New Orleans to him, but $13 million a year for a backup wing was a clear overpay by the Pelicans.

Timofey Mozgov (4 years, $64 million with Lakers)

The Los Angeles Lakers started off the first day of free agency with a bang, reportedly inking backup center Timofey Mozgov to a four-year, $64-million deal.

After a strong showing in the 2015 Finals, Mozgov struggled mightily in this year's playoffs, losing his backup job to deadline acquisition Channing Frye.

Los Angeles is clearly no longer the free-agent hotspot it once was, but the Lakers would've been wise to wait for the market to develop before handing out a monster contract to a player who's never averaged double-digit points in a single season.

Evan Turner (4 years, $70 million with Blazers)

After earning approximately $28 million over his first six years in the league, Evan Turner will nearly quadruple his career earnings over the next four seasons thanks to the $70-million deal he reportedly agreed to Friday.

The Blazers reportedly plan to use Turner as a starter, making the deal a bit easier to swallow, but history has shown the 27-year-old is likely better suited for a bench role.

With just north of $57 million in salaries committed for next season, Portland certainly had the cap room to spend big, but that didn't mean it had to throw $70 million at an average player.

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