Frye, who was with the Portland Trail Blazers the past two seasons, is believed to have signed a two-year, $3.8 million deal for the team's biannual extension and will have an option on his second year of the contract, a league source told ESPN.com.
The Cleveland Cavaliers were reportedly interested in signing Frye with the remainder of their mid-level exception, but the 2005 first-round pick of the New York Knicks decided to travel south to Phoenix.
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