Randy Foye traded in Andre Iguodala's move to Warriors

Sam Amick | USA TODAY Sports

The Denver Nuggets have agreed to cooperate in a sign-and-trade that will land them free agent shooting guard Randy Foye from the Utah Jazz and send free agent small forward Andre Iguodala to the Golden State Warriors, according to a person with knowledge of the deal.

The person spoke to USA TODAY Sports on the condition of anonymity because the deal can't be formalized until the free agency moratorium lifts on July 10.

The Warriors had previously planned to sign Iguodala to a four-year, $48 million using salary cap space created by sending Andris Biedrins, Richard Jefferson and Brandon Rush to the Jazz, but this deal will allow them more roster flexibility by doing it via sign-and-trade with the Nuggets. Those three players and their combined $24 million of expiring salary cap space will still go to the Jazz, who will send Foye to Denver on a three-year deal that starts at about $3 million a year.

The Jazz also receive first-round picks in 2014 and 2017 as well as two second-round picks. With this addendum to the deal, however, Denver gets a trade exception worth approximately $9 million that it can use anytime within the next year, and Utah gets an additional second-round pick as well. Yahoo Sports first reported the teams were talking about this deal.