ORLANDO, Fla. -

Point guard Jameer Nelson has reached a contract agreement with the Orlando Magic, NBA sources told Local 6 Sports Director David Pingalore.

The move was confirmed Thursday morning by Nelson on his Twitter page.

"Glad to say I've reached an agreement with the Magic... I'm blessed to have the best fans and a great organization supporting me!" Nelson tweeted.

Sources told Pingalore that Nelson will sign a three-year, $19.7 million contract.  The third season is an option year, sources said.

Last week, Nelson, who has spent his entire eight-year career with the Magic, opted out of his contract, making him an unrestricted free agent.

The move cannot become official until July 11.

The Magic drafted Nelson in 2004, along with Dwight Howard, who is signed through next season but recently told the Magic he wanted to be traded to Brooklyn.

Along with Howard's unresolved status, the Magic also have lingering decisions to make on restricted free agent forward Ryan Anderson, as well as guard J.J. Redick.

Watch Local 6 News for more on this story.