Yahoo Sports Magic offseason primer: Trade possibilities, cap space, draft, and more
The Orlando Magic could be on the cusp of making a playoff run. They made a significant improvement last season winning 12 more games than the previous season led by their cornerstones Paolo Banchero and Franz Wagner. Armed with cap flexibility, two lottery picks, and a strong overall young roster, the Magic could look to make a push toward the play-in Tournament next season.
Here is a preview of the 2023 offseason for the Orlando Magic.
State of the roster and draft
The Magic are heading into the offseason with 16 players under contract, including the 6th and 11th overall selections in the 2023 NBA Draft. Aside from their two top players, Markelle Fultz and Wendell Carter Jr. are the other two that appear to be a part of the Magic’s future. Most of their veterans are on non-guaranteed contracts and most of their players on rookie deals are on expiring contracts.
If the Magic keep the 6th overall selection, most mock drafts expect them to choose between wing players like Ausar Thompson, Cam Whitemore, Jarace Walker, and Taylor Hendricks. With the 11th selection, they could target one of these players if still available, as well as prospects projected in that range like Gradey Dick, Cason Wallace, and Anthony Black, if available. Of course, the Magic could look to trade one of these picks to address their needs or package both of them to potentially move up in the draft.
Gary Harris and Bol Bol have non-guaranteed salaries that seem likely to get fully guaranteed. Jonathan Isaac is partially guaranteed for $7.4 million and his situation could be worth monitoring. He returned after missing two and a half seasons with lower body injuries but only played in 11 games before suffering another injury. His future with the team was already uncertain with the ascents of Banchero and Wagner, and the flexibility on his deal could lead the Magic to trade him.
They also have Michael Carter–Williams, Goga Bitadze, and Admiral Schofield on team options. The Magic are projected to have cap space but could still choose to operate over the cap if they don’t plan on pursuing free agents. In this scenario, it would make sense to pick up the options of all three players and hang onto Isaac to have as much outgoing salary in potential trades as possible.
Cap space and trade possibilities
The Magic currently project with $15 million in cap space if they renounce all free agent cap holds and don’t waive any current players. That combined with the $7.6 million room mid-level exception gives them slightly more spending power than the $12.2 million non-taxpayer mid-level exception and $4.5 million bi-annual exception. With the cap space path already more fruitful, it would make more sense for the Magic to generate more.
The Magic could generate a maximum of $59 million in cap space but that would require them waiving Fultz, Harris, and Bol. They would still project to have $30 million in space if they keep all three, decline all other team options, and hold onto the minimum cap hold for Mo Wagner so they can go over the cap to re-sign him after.
One of Orlando’s biggest needs this season is shooting. The team ranked 26h in offensive rating, 24th in three-point percentage, and 27th in three point attempts. They might have a better chance at addressing that in free agency or through the trade market than the draft where they’re currently slotted. As great as a foundation Banchero and Wagner make, they still need to be surrounded by shooting to be successful. Some free agents they could pursue to improve their shooting include Khris Middleton, Cameron Johnson, Gary Trent Jr.
The Magic could also seek an upgrade at guard if they feel they could do better than Jalen Suggs and Cole Anthony. Such a move could fortify their point guard rotation by keeping Fultz as a high end backup. They could use their cap space to pursue guards like Fred VanVleet and Austin Reaves. If any of these players became available, they could make competitive offers for guards like Damian Lillard, Trae Young, Dejounte Murray. Moving up in the draft to select Scoot Henderson or Amen Thompson would also make a lot of sense for them.
Extension candidate: Markelle Fultz
Markelle Fultz had his best season of his career with improvements all across the board. Even if he doesn’t pan out to becoming an All-Star he is now good enough to be impactful for a competitive team. Fultz will be extension-eligible throughout the 2023-24 season. He might be one of the most properly paid players in the league, so an extension that keeps his salary in a similar range makes sense.
Extension candidate: Cole Anthony
Cole Anthony is Orlando’s other top extension candidate. After starting every game in 2021-22, Anthony played a reserve role this season and saw his efficiency rise and per-36 numbers remain the same on lower usage. He could still improve to becoming a starter but at the least he has a good floor as a high end reserve guard.
He is entering the final season of his rookie contract and will be eligible for a rookie-scale extension during the offseason. The market for guards is tough to gauge right now and his next deal could hinge on what players like Gabe Vincent, Tre Jones, and Coby White get in free agency this summer.
Free agent: Mo Wagner
Mo Wagner is Orlando’s sole free agent this offseason. He had a career-best season where he became the team’s primary backup center option off the bench against a crowded big man rotation. He seems like a good bet to return and could be looking at a decent raise in the taxpayer mid-level range. The Magic will have his Bird rights so they will have no limitations toward re-signing him. His minimum cap hold could allow the Magic to utilize their cap space, then go over the cap to re-sign him.
2023-24 SALARY SITUATION
Players rostered: 16
Two-way players: 2 (Kevon Harris and Jay Scrubb)
Guaranteed salaries: $71.7 million
Non-guaranteed salaries: $47.3 million
Total salary: $119 million
Luxury tax space: $43 million
First apron space: $46.4 million
Second apron space: $56.9 million
Spending power:
Cap space: $22.1-59 million
Room mid-level exception: $7,609,000
Jonathan Isaac
2023-24 salary: $17,400,000
Remaining salary guaranteed: $7,400,000
Additional notes:
2023-24 salary is partially guaranteed for $7.4 million. Fully guaranteed if not waived by the league-wide cutdown date.
2024-25 salary is non-guaranteed.
$2.6 million in unlikely annual incentives.
Extension-eligible during the 2023 offseason.
Markelle Fultz
2023-24 salary: $17,000,000
Remaining salary guaranteed: $2,000,000
Additional notes:
2023-24 salary is partially guaranteed for $2 million. Fully guaranteed if not waived by June 30.
$1 million in annual unlikely incentives.
Extension-eligible throughout 2023-24.
Wendell Carter Jr.
2023-24 salary: $13,050,000
Remaining salary guaranteed: $35,850,000 through 2025-26
Gary Harris
2023-24 salary: $13,000,000
Remaining salary guaranteed: $0
Additional notes:
2023-24 salary is non-guaranteed. Fully guaranteed if not waived by June 30.
Paolo Banchero
2023-24 salary: $11,608,080
Remaining salary guaranteed: $39,103,649 through 2025-26
Jalen Suggs
2023-24 salary: $7,252,080
Remaining salary guaranteed: $16,440,465 through 2024-25
Cole Anthony
2023-24 salary: $5,539,771
Remaining salary guaranteed: $5,539,771
Additional notes:
Eligible for rookie-scale extension during the 2023 offseason for up to five years.
Franz Wagner
2023-24 salary: $5,508,720
Remaining salary guaranteed: $12,515,812 through 2024-25
Chuma Okeke
2023-24 salary: $5,266,713
Remaining salary guaranteed: $5,266,713
Additional notes:
Eligible for rookie-scale extension during the 2023 offseason for up to five years.
Michael Carter-Williams
2023-24 salary: $3,051,144 (team option)
Remaining salary guaranteed: $0
Bol Bol
2023-24 salary: $2,200,000
Remaining salary guaranteed: $0
Additional notes:
2023-24 salary is non-guaranteed. Fully guaranteed if not waived by June 30.
Goga Bitadze
2023-24 salary: $2,066,585 (team option)
Remaining salary guaranteed: $0
Caleb Houstan
2023-24 salary: $2,000,000
Remaining salary guaranteed: $2,000,000
Additional notes:
2024-25 and 2025-26 salaries are non-guaranteed.
Admiral Schofield
2023-24 salary: $1,997,238 (team option)
Remaining salary guaranteed: $0
Mo Wagner
Cap hold: $1,989,698
Type of free agent: Bird (unrestricted)
2023 Pick No. 6
2023-24 salary: $7,137,840
Remaining salary guaranteed: $32,440,533 through 2026-27
Additional notes: HoopsHype and ForTheWin’s draft expert Bryan Kalbrosky has Ausar Thompson as the 6th overall selection in his most recent mock draft.
2022 Pick No. 11
2023-24 salary: $4,952,160
Remaining salary guaranteed: $22,828,658 through 2026-27
Additional notes: HoopsHype and ForTheWin’s draft expert Bryan Kalbrosky has Gradey Dick as the 11th overall selection in his most recent mock draft.
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