Orlando, FL (SportsNetwork.com) - The Orlando Magic signed forward Channing Frye on Monday.
Multiple reports last week indicated that the deal is worth $32 million over four years.
The 6-foot-11 forward opted out of the final year of his previous contract with the Phoenix Suns.
Frye, 31, missed the entire 2012-13 season after a routine echocardiogram showed he had an enlarged heart. He returned to start all 82 games last season and averaged 11.1 points and 5.1 rebounds for the Suns.
"We're extremely excited to welcome Channing and his family to Orlando," said Magic general manager Rob Hennigan. "Channing's character, competiveness, veteran experience and leadership ability are valuable additions to our developing team. His ability to stretch the floor and play sound team defense are also ways in which we envision Channing helping our team moving forward."
The former No. 8 overall draft pick has averaged 9.9 points and 5.2 rebounds in 582 career games for New York, Portland and Phoenix. He also has played in 20 career playoff games, averaging 7.2 points and 4.7 rebounds.