D.J. Augustin reportedly agrees to multi-year contract with Orlando Magic

Denver Nuggets free agent point guard D.J. Augustin has agreed to a four-year contract worth $29 million with the Orlando Magic, according to ESPN.com’s Chris Broussard.

Augustin, 28, averaged 11.6 points, 4.7 assists and shot 41.1 percent from three in 28 games with the Nuggets last season after coming over in a midseason trade from the Oklahoma City Thunder.

Augustin will head to Orlando where he will be the backup point guard to Elfrid Payton.

The Nuggets had little incentive to bring Augustin back with Jameer Nelson already under an affordable contract and after drafting combo guard Jamal Murray seventh overall in Thursday’s draft.

The terms of Augustin’s deal have yet to be announced.

Trail Blazers offer Parsons max contract

Parsons, who was rumored to be a Denver Nuggets target leading up to the start of free agency, has reportedly been offered a max-level contract with the Portland Trail Blazers.

ESPN.com’s Brian Windhorst reported yesterday the Nuggets might have interest in Parsons, who’s also being courted by the Memphis Grizzlies, Los Angeles Lakers and Orlando Magic, per ESPN.com’s Tim MacMahon.