Two players key in rebuilding project
Team officials didn't provide details of the contracts Monday.
Indiana got Collison in an August trade with New Orleans. He averaged 12.4 points and 5.7 assists in his rookie season with the Hornets.
Hansbrough was Indiana's first-round pick in 2009, No. 13 overall. He averaged 8.5 points and 4.8 rebounds but missed most of the season with an inner ear infection that caused dizziness and made him sensitive to light.
Pacers president Larry Bird says the players are key components in Indiana's rebuilding project.
Copyright 2010 by The Associated Press