Report: Mike Miller expected to sign 1-year deal with Nuggets

Mike Miller is expected to sign a one-year contract with the Denver Nuggets once he clears waivers Wednesday, according to ESPN's Marc Stein.

Miller was bought out and waived by the Portland Trail Blazers on Monday, and Stein reports the Nuggets are the "strong favorites" to land the veteran barring a late snag.

The 35-year-old sharpshooter was acquired by the Blazers in July as part of a deal that saw he and Brendan Haywood shipped off by the Cleveland Cavaliers.

Portland had no intention of retaining Miller. And so, the anticipated buyout of his $3.3-million expiring contract was the first step in the 15-year pro finding a new home.

It was reported earlier that the Memphis Grizzlies, Oklahoma City Thunder, and Dallas Mavericks also showed interest in Miller. However, the Nuggets - armed with the ability to not only offer Miller more money but also the playing time the other aforementioned teams cannot - seem poised to take the lead in the Mike Miller sweepstakes.

The 2001 Rookie of the Year and 2006 Sixth Man of the Year won two NBA championships (2012 and 2013) with the Miami Heat.