The Hornets and Magic announced the sign-and-trade deal sending Ryan Anderson to New Orleans was approved by the NBA on Wednesday, the end of the league’s signing moratorium.

Anderson signed a four-year, $36 million offer sheet the Magic declined to match, opting instead for a trade that brings forward Gustavo Ayon to Orlando in return.

Anderson was named the NBA’s most improved player last season. At 6-10, 240 pounds, he’s a versatile player whose 3-point stroke makes him a difficult matchup. A career 42.7-percent shooter from 3-point range, he was a fulltime starter for the first time in 2011-12. Anderson averaged 16.1 points and 7.7 rebounds per game in his third season with the Magic.

Anderson spent his rookie season with the New Jersey Nets.

Ayon started 24 games as a rookie with the Hornets and averaged 5.9 rebounds and 4.9 assists.

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