The New Orleans Hornets' frontcourt is taking shape.

Sources with knowledge of the talks told ESPN.com on Sunday that the Hornets and Orlando Magic reached agreement on a sign-and-trade deal that will send Magic forward Ryan Anderson to New Orleans to play alongside prized rookie Anthony Davis.

The Magic will receive young Hornets center Gustavo Ayon in the deal.

The Hornets were in talks to sign Anderson, a restricted free agent, to an offer sheet, but sources say that trade talks with the Magic have progressed quickly once Orlando officials decided they would not want to match an offer to Anderson.

NBA.com is reporting that Anderson will sign a four-year deal worth between $34-36 million.

The 6-foot-10 Anderson is entering his fifth NBA season out of California. He started 61 games for Orlando last season, averaging 16.1 points and 7.7 rebounds.

Ayon, a 6-10 Mexico native, spent his rookie NBA campaign in New Orleans last season after playing professionally in Spain's top pro league. The 27-year-old Ayon started 24 games for the Hornets, averaging 5.9 points and 4.9 rebounds in 20.1 minutes per game.

As with all league business, Sunday's trade can't be consummated until Wednesday, which is the first day new NBA contracts can be signed for the 2012-13 season.

The trade for Anderson is not expected to preclude the Hornets from matching the four-year offer sheet worth nearly $60 million that the Phoenix Suns have agreed to give Hornets restricted free agent Eric Gordon.

The drafting of Davis and forthcoming arrival of Anderson all but guarantees that Hornets big men Chris Kaman and Carl Landry will be moving on to new teams as free agency continues to unfold.

Information from The Associated Press was used in this report.