The Orlando Magic on Friday waived Hedo Turkoglu, who likely will become a free agent.
Turkoglu was in the final year of a contract paying him $12 million this season. However, only $6 million was guaranteed. GM Rob Hennigan saved the other $6 million by waiving Turkoglu by Jan. 7, the day all contracts become fully guaranteed.
Waiving Turkoglu moves the Magic approximately $5 million under the cap and makes them a potential player leading up to the trading deadline as a facilitator in a three-team deal or taking back more salary in a conventional trade.
Turkoglu has not spent of of this season with the Magic, who are rebuilding with young players. The sides were unable to agree on a buyout, and Hennigan was unable to trade Turkoglu’s contract for an asset.
The Orlando Sun-Sentinel cited sources saying Turkoglu, 34, wants to continue his career. He has been working out at Rollins College in Florida.
A combo forward, Turkoglu’s best asset in his ability to stretch the floor with a career 38 percent mark from 3-point range. Plenty of teams could use more shooting, and USA Today reports the Lakers and Hawks may have some interest.
Turkoglu has averaged 11.9 points, 4.2 rebounds and 3.1 assists in 897 career games with Sacramento, San Antonio, Orlando, Toronto and Phoenix. He was the 2008 Most Improved Player and helped the Magic reach the 2009 NBA Finals, where he was the team’s leading scorer.
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