Report: Magic sign Channing Frye to 4-year, $32M deal

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In a relatively out-of-nowhere signing, the Orlando Magic have inked sweet-shooting big man Channing Frye to a four-year, $32-million contract, according to Yahoo Sports.

The Phoenix Suns were said to want to retain Frye after he declined his 2014-15 player option, while the Golden State Warriors, Cleveland Cavaliers and others were thought to be in the mix. Contenders were said to be hoping Frye would sign for the mid-level exception, which would total an estimated $22.7 million over four years, assuming maximum raises.

The Magic hadn't been tied to Frye much, but the dollar figure on the deal suggests they're big fans, paying enough of a premium to strip out the "contender advantage."

As far as floor-spacing bigs go, the deal compares favorably to those for Patrick Patterson ($6 million per season) and Spencer Hawes ($5.75 million per season). Frye has a longer track record of offensive success than Patterson and is a better defender than Hawes, and while he's probably not worth that annual value in a vacuum, the Magic have plenty of flexibility and an obvious need.

Frye represents a nice offensive complement to center Nikola Vucevic and should help a team that finished 20th in 3-point percentage, 21st in 3-point field goals and just drafted a point guard who will also struggle to his the triple. He can also let rookie Aaron Gordon guard the tougher forward when they play together and be the rangier of the two on offense.

The 31-year-old had a great season in 2013-14, returning to the Suns after a year off due to a heart issue to average 11.1 points and 5.1 rebounds while shooting 37 percent from long-range.