Published: Jul 11, 2012 12:59 PM EDT
Updated: Jul 12, 2012 6:31 AM EDT

ORLANDO, Fla. (AP) - The Magic have officially completed a sign-and trade deal that sends restricted free agent Ryan Anderson to the New Orleans Hornets in exchange for fellow forward Gustavo Ayon.

The deal was agreed to earlier this week, but Wednesday marked to end of the NBA's trade moratorium.

Anderson, a 6-foot-10 forward that can shoot the 3-pointer, completed his fourth NBA season and third in Orlando. He was a coveted free agent after posting a career-best 16.1 points and 7.7 rebounds, and being named the league's most improved player.

The Magic had the opportunity to match New Orleans' four-year, $36 million offer sheet, but declined.

Orlando gets back the 6-10 Ayon, who completed his rookie NBA season after playing professionally in Spain. He started 24 games, averaging 5.9 points and 4.9 rebounds.