Report: Nuggets closing in on 1-year, $2.3M deal with Richard Jefferson

Richard Jefferson could soon be on his way to the Mile High City.

The Denver Nuggets are close to signing the 37-year-old veteran to a one-year, $2.3-million contract, league sources told ESPN's Adrian Wojnarowski.

In order to compete the deal, Denver would need to waive a player to make room on its 15-man roster. That player will likely be point guard Jameer Nelson, sources informed Wojnarowski.

The Milwaukee Bucks were initially reported to be the heavy favorites to land Jefferson once he cleared waivers, with the Nuggets later throwing their name in the hat.

Jefferson was traded over the weekend from the Cleveland Cavaliers to the Atlanta Hawks, who subsequently waived him.

The Nuggets are fairly stacked at the four- and five-spot, but lack depth at the wing positions. Jefferson may not see a ton of minutes, but should provide veteran leadership and insurance coming off the bench for the youthful roster.

Jefferson averaged 5.7 points and 2.6 rebounds on 44.6 percent shooting as a reserve for Cleveland last season. It was there where he won the only championship of his 16-year career in 2016-17.