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Orlando Magic Expected To Land 3 Major Free Agents This Offseason

The Orlando Magic were arguably the biggest surprise in the Eastern Conference this past season. Due to their youth, the Magic were considered to be one year away from being contenders in the East. However, the Magic produced their best season in over a decade, finishing fifth in the conference at 47-35, though they fell to the Cleveland Cavaliers in the first round of the playoffs.

Orlando’s 47 wins were their most since 2010-11, when the Magic won 52 contests. It was a 13-win improvement over the previous season for the Magic, who ended a three-year playoff drought. The Magic also won the Southeast division in five years.

More importantly, Paolo Banchero, Franz Wagner, and Jalen Suggs continue to take steps in their development. Banchero was a first-time all-star, while Suggs was a second-team all-defensive selection.

Orlando Magic Expected To Land 3 Major Free Agents This Offseason

Orlando has a few critical decisions to make as free agency approaches. The Magic currently have 11 players under contract, with salaries totaling $104.5 million. That leaves the Magic $36.5 million under the salary cap.

However, the Magic could have much more cap space depending on what they do with the players who have team options. Joe Ingles ($11 million) will not be retained, while Moritz Wagner ($8 million) might be a tougher decision. Caleb Houstan ($2.0 million) has a nonguaranteed deal.

By eliminating Ingles, Moe Wagner and Houstan’s salaries from their books, the Magic project to have around $54.5 in salary space. The Magic could increase the cap space to over $71 million. However, they are not expected to waive Jonathan Isaac, who has a $17.4 million nonguaranteed deal.

Goga Bitadze, Markelle Fultz, Gary Harris, and Chuma Okeke (restricted) are free agents. None of the four expected to be back.

Orlando owns the No. 18 pick in the NBA draft.

What the Magic Need This Offseason?

While Suggs, Banchero, and Fran Wagner are great building blocks, Orlando does have specific needs. The Magic need veteran leadership and a starting point guard to run the offense, though Suggs may be able to slide over to the one eventually. The Magic also needs to add 3-point shooting and depth at forward.

Here is what NBA analyst Keith Smith of Sportac said about the Magic’s offseason:

“This offseason is about balance for the Orlando Magic. Orlando has to find balance on the court. Equally as important, the Magic have to find balance on the cap sheet.

After a big step-forward season, the future is brighter in Orlando than any point since Dwight Howard was traded. There is young talent in place, a terrific coach who has grown with the team, a front office that has been patient in letting everything come together and plenty of cap flexibility.

Wagner and Suggs are both up for rookie scale extensions this offseason that would start with the 2025-26 season. Banchero will be in the same boat a year from now, with a very likely max extension starting in 2026-27. If all three young players are extended, that will eat up most of the cap space for the Magic.

That means this summer through the summer of 2025, makes up the window for Orlando to add a big-name (read: high-salaried) player. After that, it’s going to be hard to fit in another big salary with an extended Banchero, Wagner and Suggs trio on the books.

But this is where the balance on the roster comes in. And it’s a pretty delicate one.

The Magic had a good season because they were a terrific defensive team. To take the next step, they need to get better offensively. Sitting in the bottom-third of the NBA in offense isn’t going to lead to a meaningful playoff run.

This is where Weltman has to be very careful. If you go acquire an offensive star that can’t defend, it can go sideways. If you don’t improve enough offensively to offset the drop-off defensively, you won’t see a whole lot of benefit. Right now, Orlando has an elite defense. Let’s say that drops off to around 10th in the NBA. If the offense doesn’t move up to near the middle of the pack, you’ve taken too much away from what made the team special.

Another factor to consider while trying to improve the offense is the balance of Banchero, Wagner and Suggs. Banchero was 17th in the league in usage, in a territory surrounded by other All-Stars. Wagner was 46th in usage, surrounded by guys who are best as second or third options. Suggs was right around the top-100 in usage, which is about right for guards who play alongside playmaking forward and wings.”

What Will Orlando Do This Offseason?

Eric Pincus of Bleacher Report predicts that Orlando will use their cap space to obtain Klay Thompson, Malik Monk, and Tobias Harris.

Klay Thompson

Thompson is the shooter and the leader that the Magic desperately needs. Thompson is not the player he used to be. The 34-year-old still averaged 17.9 points a game and nearly three treys with shooting splits of 43.2%/38.7%/92.7%.

“Thompson is a legendary shooter, a big name and an excellent fit for an Orlando squad that defends well but needs floor spacing in the worst way,” Pincus said. “Put him down to the Magic on a three-year, $81.9 million contract—more than the Warriors will pay (at least via the B/R crystal ball).”

Malik Monk

Monk has put together two fantastic seasons. The 26-year-old, who finished fifth in 6th-Man of the Year voting last season, was second this past season and 12th in Clutch Player of the Year.

Monk is coming off a career season in 2023-24. He averaged 15.4 points, 5.1 assists, and 2.9 boards with shooting splits of 44.3%/35.0%/82.9%.

Here is what Pincus said about Monk:

“After two years, he’s outperformed once again, and Sacramento is in a similar position with just his early Bird rights, which limit the team’s offer to the 26-year-old at $17.4 million.

With Domantas Sabonis and De’Aaron Fox, the Kings can’t get to the necessary $20 million below the salary cap to pay the kind of salary other teams will likely offer Monk in July. Even trading away Harrison Barnes, Kevin Huerter and others won’t be enough to prevent his exit unless he’s willing to take less to stay.

If the Kings can pay him almost $78 million over four years, the Magic will give him a 10 percent bump (slightly more, plus a favorable tax situation in Florida) to $86 million, starting at $20 million.

Monk is still a sixth man, but Thompson will play small forward for the team. The Magic bring in two shooters and have two creative scorers with Cole Anthonyand Monk off the bench—with about $8.3 million left to spend.”

Tobias Harris

Harris is a very good player who receives way too much criticism. The 32-year-old combo forward bounced back from a disappointing 2022-23 season by averaging 17.2 points, 6.5 rebounds, and 3.1 assists with shooting splits of 48.7%/35.3%/87.8% this past season.

“Rounding out the Magic, the team needs veteran depth at power forward, added Pincus. “While they could retain Joe Ingles, Tobias Harris may provide a starting-caliber player behind Paolo Banchero.”


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