10:05pm: The signing is official, the team announced.
4:51pm: Miller and the Nuggets have agreed to a one-year deal, Christopher Dempsey of The Denver Post reports (via Twitter).
WEDNESDAY, 3:55pm: Miller is already in Denver in anticipation of signing a deal once he clears waivers today, Stein tweets.
MONDAY, 8:22pm: The Nuggets have emerged as the strong favorites to sign veteran guard Mike Miller when he clears waivers on Wednesday, league sources told ESPN.com’s Marc Stein. Miller, who was waived Monday by the Trail Blazers, is expected to sign a one-year contract with the Nuggets barring any late snags, Stein adds.
Miller was scheduled to make $2.8MM in the final year of his contract before he reached the buyout agreement with Portland. The move was expected when Miller was acquired by the Blazers from the Cavaliers in July.
How much playing time Miller can carve out with the Nuggets is a major question mark. Denver has four other shooting guards on its current roster — Randy Foye, Gary Harris, Will Barton and Nick Johnson. The Nuggets are also loaded at small forward, with Danilo Gallinari and Wilson Chandler sharing minutes at that spot. However, Miller’s veteran leadership could be a bonus on a team striving to make the playoffs in the deep Western Conference.