The Orlando Magic didn’t hit a grand slam in the 2024 NBA free agency, but they can’t be unhappy with how things have gone so far.
Orlando had a breakthrough year in 2023-24 despite being the fifth-youngest team in the NBA. The Magic won the Southeast division for the first time since 2020 as they went 47-35, posting their most wins in nearly a decade and a half. The Magic entered the offseason reportedly with big plans, as they had the second-most cap space in the league.
While the Magic didn’t end up with either Paul George or Klay Thompson, two players they were linked to before the offseason, they did come up with a quality 3-and-D veteran in Kentavious Caldwell-Pope. And the truth be told, the Magic may have “won” by “losing.”
George and Thompson are certainly better scorers and shooters than Caldwell-Pope. George is also a better defender than KCP. But Caldwell-Pope is younger than George and Thompson and has not played fewer than 67 games in his 11-year career. He is also more versatile than Thompson and much cheaper than George.
Plus, Caldwell-Pope doesn’t need the ball in his hands to be successful. This is important for the Magic as Franz Wagner, Paolo Banchero, Cole Anthony, and, to a lesser extent, Jalen Suggs do.
Caldwell-Pope signed a three-year, $66 million deal, though the third year is a player option. KCP, a 3-and-D wing, averaged 10.1 points and 1.6 threes while shooting 46.0/40.6/81.9%. He also contributed 2.4 rebounds, 2.4 assists, and 1.2 steals a game. He is a career 41.6% shooter from the corner and has made at least 38% of his 3-point attempts in six of his last seven seasons.
Up-and-Coming Team Keeps Bench Mob Together, Key Decisions Forth-Coming
Even though acquiring Caldwell-Pope was the Magic’s most expensive free agent signing due to his leadership and 3-point prowess, they have also done a good job of maintaining continuity, which is an underrated aspect of sports.
So, instead of freely spending on “star players,” Magic general manager Anthony Parker decided to use the cap space to keep the league’s third-best bench intact in 2023-24.
Orlando’s reserves averaged the fourth-most points a season ago with 40.5 points a game. The Magic’s bench was also fourth in rebounds and fifth in assists. The Magic were also sixth in plus/minus rating at +1.2/
Parker got things rolling by inking backup big Goga Bitadze to a three-year, $25 million deal and Gary Harris to a two-year, $15 million contract on June 1.
Bitadze, who compiled five double-doubles, excels around the rim on both ends of the floor and on the glass. Harris is also a 3-and-D wing who is good in his role.
The Magic then agreed to a two-year, $22 million deal with Moritz Wagner, who produced a career year in 2023-24, this afternoon and renegotiated Jonathan Isaac’s contract earlier this evening. Isaac had a partial guarantee deal worth $17.2 million for the upcoming season. But with his five-year, $84 million extension, per ESPN’s Adrian Wojnarowski, he is now signed through 2030 and will make an average of less than $17 million per season.
Isaac has battled injuries and inconsistency throughout his career. The 26-year-old finished ninth in the 2023-24 Sixth Man of the Year voting, producing 6.8 points, 4.5 rebounds, and 1.2 blocks a game.
Orlando’s Salary Cap Situation
With their moves, Orlando has 14 under contract, including unsigned first-rounder Tristan Da Silva. It also puts the Magic’s salary at about $135.5 million, meaning they have $5.5 million in cap space.
So, how will the Magic fill the last roster spot?
According to Jason Beede of the Orlando Sentinel, there is mutual interest between the team and veteran Joe Ingles returning.
Ingles averaged 4.4 points, 3.0 assists, and 2.1 rebounds, the lowest numbers since his second season. However, the 36-year-old still filled a role, making 1.0 3-pointers with shooting splits of 43.6/43.5/82.4%. The Magic outscored their opponents by 2.4 points with Ingles on the court, the third-best mark on the team.
Even when Orlando fills its 15th roster spot, it still has other decisions to make. The Magic need to put together their summer league squad and fill all three of their two-way spots.
Caleb Houstan and Wendell Carter Jr. are eligible for an extension, but will they receive it? Carter may get an extension, but it is still in the air. Meanwhile, Houstan is not expected to receive an extension.
Additionally, Orlando has until the end of October to decide whether to pick up Banchero, Anthony Black, and Jett Howard’s 2025-26 option. Expect the Magic to exercise all three players’ options.
