The Denver Nuggets have traded forward Wilson Chandler and a future second-round draft pick to the Philadelphia 76ers, league sources told ESPN on Tuesday.

Chandler's $12.8 million expiring contract will be absorbed into the Sixers' available cap space. Denver has been looking to unload salary for months.

The deal will save Denver $50 million in combined salary and luxury tax. The Nuggets' tax bill now drops from $51.3 million to $14.3 million.

Chandler's contract can be traded immediately without any restrictions because Philadelphia acquired him with available cap room.

Chandler spent 7½ years in Denver after being acquired in the megadeal that sent Carmelo Anthony to the New York Knicks.

The 31-year-old has averaged 13.5 points and 5.4 rebounds per game during his career. He started 71 games last season and averaged 10.0 points and 5.4 rebounds per contest.