Jul 08, 2009 7:59 AM EST

The Nuggets and forward Chris Andersen have agreed to a five-year deal that could be worth as much as $26 million, according to the player's manager.

"We're ecstatic to stay in the community," manager Mark Bryant said.

Andersen will make $3.7 million next season in the backloaded and incentive-based contract. He had a number of suitors, but said all along that he wanted to remain in Denver.

Via Denver Post