2:47pm: In a tweet from Yahoo! Sports columnist Adrian Wojnarowski, Anderson's contract will be four years, approximately $36MM. Also, according to ESPN.com's Marc Stein, the trade for Anderson is not expected to interfere with New Orleans decision on whether or not they'll match the Suns offer sheet with Eric Gordon. But it does affect the futures of Chris Kaman and Carl Landry, two big men who played for the Hornets last season who are almost certain to find a new team shortly.
2:10pm: According to a tweet from the Orlando Sentinel's Josh Robbins, the Magic are discussing a sign-and-trade deal with the Hornets centered around Ryan Anderson. Also, in a tweet from the New Orleans Time-Picayune's Jimmy Smith, the deal is close to being done, and involves current Hornets big man Gustavo Ayon.
1:29pm: Magic forward Ryan Anderson likely won't re-sign with the Magic, and will be dealt in a sign-and-trade, according to a tweet from Yahoo! Sports columnist Adrian Wojnarowski. Anderson is currently a restricted free agent. The Kings have reportedly been extremely interested in the sharp shooting forward's services, with hopes of playing him at the small forward position.
It's also been reported that several teams have been offering Anderson a front loaded contract in an attempt to dissuade the Magic from matching. It's unknown whether there's a direct connection between that report and Orlando's supposed interest in pursuing a sign-and-trade, but if it's true, both Anderson and the Magic would be placed in a beneficial situation.