In the team’s first personnel move since the NBA Draft, the Denver Nuggets announced on Saturday that they have reached an agreement with forward Wilson Chandler on a multi-year contract.

NBA: Philadelphia 76ers at Denver Nuggets

Adrian Wojranowski of Yahoo reported Saturday that the contract is worth $46 million over four years.

Chandler has spent the last five seasons as a member of the Nuggets after being acquired via trade in 2011.

The free agency period began on July 1 and this is the first personnel move announced by the team or reported during that period. Until the extension of Chandler, Denver had been mostly idle during free agency, not even being reportedly involved in conversations with free agents

Chandler, an eight-year veteran, was drafted 23rd overall by the New York Knicks  in the 2007 NBA Draft. He has appeared in 445 career games (343 starts) with Denver and New York, averaging 13.7 points, 5.3 rebounds and 1.8 assists. He also played in 32 games (29 starts) for the Zhejiang Guangsha Lions of the Chinese Basketball Association in 2011-12, averaging 26.6 points, 11.6 rebounds and 2.3 assists.

Currently, Darrell Arthur (Unrestricted Free Agent), Will Barton (Restricted Free Agent), Ian Clark (UFA) and Jameer Nelson (UFA, declined player options) are the players whom the Nuggets rostered in 2014-15 that are currently available as free agents. The Nuggets are expected to be frontrunners to re-sign Nelson and Clark is playing with the team’s Summer League squad in Las Vegas.