IguodalaThe Golden State Warriors and free agent Andre Iguodala have agreed to terms on a four-year, $48 million contract, according to Yahoo’s Adrian Wojnarowski.

In order to get under the cap, Warriors will send Richard Jefferson, Andris Biedrins and Brandon Rush to the Utah Jazz, as well as two future first-round picks and an undisclosed number of second-round picks. In return, Wojnarowski reports, Golden State is receiving guard Kevin Murphy, who has a non-guaranteed $788,000 deal for 2013-14. The deal looks to have cleared $24 million in cap space.

Iguodala, 29, is coming off a year in which he averaged 13 points, 5.3 rebounds and 5.4 assists, but posted career lows in True Shooting Percentage (.520) and Win Shares (5.6), among others. Still, Iguodala was heralded as on the top free agents of the summer — behind, of course, Dwight Howard, who the Warriors are still pursuing.

Wojnarowski also reports that the Warriors are not finished. With only $2.8 million left under the cap, the Warriors are trying to find a suitor for Andrew Bogut, so that they could offer Howard roughly $14 million annually. A sign-and-trade with the Los Angeles Lakers is not out of the question here.

Rumors are swirling, however, that Howard has already made his decision. A source told CBS Sports on Friday that the Warriors’ brass believes that Howard is bound for Houston. Wojnarowski doesn’t believe so though.

In all, this is a maddeningly exciting time to follow the Warriors, as it appears with the team could be encroaching upon their own  “Big Three.” Even still, the addition of Iguodala alone is enough to suggest that public perception of Warriors is shifting from depilation to destination. With Howard on the cusp of making a decision — I hope, at least — we should get a definitive answer as to how far Joe Lacob and Peter Guber have brought this franchise.

UPDATE

David Aldridge is reporting that the Warriors have been named as one of Howard’s “top-two” teams.

UPDATE – 3:45 PM

According to USA Today’s Sean Amick, Dwight Howard has chosen to sign with the Houston Rockets.

Golden State went from a long shot landing spot for Howard to a true contender in a short amount of time, but fell short despite signing Iguodala and shopping Andrew Bogut’s large, expiring contract.

The Howard deal has not been officially announced, but other outlets are reporting Howard is finalizing the deal with Houston.

The Warriors currently have $2.8 million in cap space and will most-likely use that money to pursue depth in the free agent market. Jarrett Jack and Carl Landry are probably out of Golden State’s price range now.