Free-agent forward Channing Frye has reached agreement on a four-year, $32 million contract with the Orlando Magic, league sources told Yahoo Sports.

Frye had opted out of the final season of his contract with the Phoenix Suns to become an unrestricted free agent. Frye passed on his player's option for $6.8 million in the 2014-15 season, which would've been the final year of an original five-year, $30 million deal.

The Suns had wanted to bring Frye back, but the Magic offer proved too attractive to turn down.