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The Orlando Magic have signed free agent guard Ronnie Price, giving them another veteran reserve in their backcourt.

Team officials announced the signing on Thursday.

If Price, a Utah Valley University product and former Utah Jazz backup, serves in a point guard capacity, he will likely be the Magic's third option behind starter Jameer Nelson and possibly rookie Victor Oladipo, if he continues to successfully transition to the position in the NBA as he showed the potential to do during summer league play.

Price, 30, appeared in 39 games last season with Portland and is joining the fifth NBA team of his eight-year career. Price was undrafted in 2005, but has since appeared in 394 career games with Sacramento, Utah, Phoenix and Portland.

He spent four seasons with the Jazz, starting in 2007-08 and concluding in 2011-12. He played 232 total games for Utah, averaging 3.8 points and 1.6 assists.

He has career averages of 3.5 points and 1.4 assists.

Around the league

Knicks • New York re-signed veteran forward Kenyon Martin. The 6-foot-9 Martin averaged 7.2 points and 5.3 rebounds over 23.9 minutes in 18 games (11 starts) with New York last season.

Mavericks • Forward/center Brandan Wright re-signed with Dallas. The 6-foot-10 Wright has played 113 games for Dallas, and last season averaged 8.5 points, 4.1 rebounds and 1.2 blocks a game while shooting 60 percent from the field. Wright's agent, Jim Tanner, said the deal is for $10 million over two years, plus incentives.