Free agents Gordon and Villanueva sign with the Pistons

DETROIT (Reuters) - The Detroit Pistons officially signed free agents Ben Gordon and Charlie Villanueva on lucrative multi-year contracts on Wednesday, a week after agreeing terms with both players.

Although financial details were not revealed by the team, local media estimate Gordon's deal to be worth $55 million over five years and Villanueva's $35 million for the same period.

"We are excited to add two talented players in Ben Gordon and Charlie Villanueva," Pistons president of basketball operations Joe Dumars said in a statement.

"Ben is a big-time scorer who will play a prominent role for our team as we move forward. Charlie is a versatile big man who can play in the post and score from the perimeter as well.

"We feel both these players will be key pieces to our roster next season."

Gordon, 26, averaged 20.7 points per game last season with the Chicago Bulls while Villanueva, 24, posted 16.2 points and 6.7 rebounds for the Milwaukee Bucks.

The Pistons are in the middle of an overhaul that began early last season when they traded away point guard Chauncey Billups, a core member of the team's 2004 NBA title winning team.

Detroit, who fired coach Michael Curry last week, lost veteran free agent Rasheed Wallace when he signed with the Boston Celtics on Wednesday.

(Writing by Mark Lamport-Stokes in Los Angeles; Editing by Justin Palmer)