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In Depth Look at Orlando’s Financial Health

Posted By Mary Stevens On June 21, 2014 @ 10:00 AM In 1080 Sports,Insider - Magic,Insider Main,NBA,NBA - Orlando Magic | No Comments

ORLANDO MAGIC: Financial Health for 2014-15

Magic_Jameer_Nelson_10 [1]The Orlando Magic will have to make tough decisions on who they plan to keep around for another season in the next month. General Manager Rob Hennigan will have to decide by mid-July if five players, including Jameer Nelson [2] will be waived.

The veteran guard has an $8 million contract with $2 million guaranteed for the upcoming season. Nelson can be waived on or before July 15th. If he sticks around for another season, he will become an unrestricted free agent in 2015. Nelson is not expected to return for another season as the Orlando Magic continue to focus on developing their young players.

Earlier this week, David Baumann of 810 AM Orlando reported that Nelson wants to stay in Orlando.

If the Magic decide not to keep Nelson around the thought of joining a contending team is probably appealing to the veteran. His Twitter bio reads, “PG-Orlando Magic-trying to get this RING!” The reality is Orlando is in the middle of their rebuilding process and the chances of Nelson winning a ring in Orlando are low. Over the years, Nelson has seen several of his teammates leave Orlando and join contending teams so leaving the Magic after 10 years wouldn’t be such a bad thing for the 32-year-old guard.

By July 10th, Hennigan will have to decide if veterans Ronnie Price and Jason Maxiell will stick around for the 2014-15 season. Maxiell did not get much playing time last season. He averaged 3.2 points per game and 2.5 rebounds per game in the 34 games he appeared in. Before arriving in Orlando, Maxiell played for the Detroit Pistons for eight season and started 71 games during the 2012-13 season. Price appeared in 31 games while averaging 2.4 points per game and 2.1 assists per game.

In the past, Hennigan has mentioned the importance of having an aged balanced roster. This may not be a huge concern now that some of these young players are entering their third or fourth season in the NBA.

Kyle_O'Quinn_Jacque_Vaughn_2013 [5]Hennigan will also have to decide if he will keep around forward/center Kyle O’Quinn [6]. The 6’10 forward started this past season coming off the bench but earned a spot in the starting lineup midway through the season. O’Quinn is a good locker room guy and is very supportive of his teammates. He is usually the first guy off the bench high-fiving his teammates when timeouts are called or when his teammates do something good. The Magic big man was drafted by Hennigan in the second round in the 2012 NBA Draft.

Guard Doron Lamb [7] arrived in Orlando after Hennigan traded J.J. Redick [8], Gustavo Ayon [9] and Ish Smith [10] to the Milwaukee Bucks for Beno Udrih [11], Tobias Harris [12] and Lamb. Lamb did not get much playing time in Orlando and has slowly adjusted to the NBA. He averaged a career high of 3.6 points per game this past season. Both O’Quinn and Lamb are set to make $915,243 this coming season. The Magic have until July 1st to waive Lamb and July 15th to waive O’Quinn.

Hennigan will also have the option of waiving center Dewayne Dedmon [13] by opening night. The Magic signed the 7-footer after bringing him to Orlando on two 10-day contracts. Dedmon signed a three year $2,063,758 contract with only 300,000 guaranteed this past March. If he is not waived, Dedmon will make $816,482 for the 2014-15 season.

Back in October 2013, Hennigan exercised 2014-15 team options for Harris, Maurice Harkless [14], Nikola Vucevic [15] and Andrew Nicholson [16]. The four players will be on the Magic roster unless they get traded.

Nelson and Arron Afflalo are the only two players on the current Magic roster that are set to make more than $7 million next season. At a glance one would think that the Magic are financially in a good place but thats not the case.

Former president of basketball operations Otis Smith and the Magic parted ways a couple of year ago but his decisions are still affecting the Magic. Last year, the Magic had to dish out over $22 million to Gilbert Arenas. Arenas signed a six-year $111 million contract with the Washington Wizards in 2008. In 2010, Otis acquired Arenas and the large contract via a trade. Shortly after in 2011, the Magic exercised the amnesty clause on Arenas, which means they still had to pay him but it wouldn’t count against the team’s salary cap.

Magic_Glenn_Davis_4 [17]This coming season the Magic will have to dish out another $6 million to Glen Davis [18]. The Magic and Davis parted ways in February 2014 through a buyout deal. In 2011, Smith signed Davis to a four-year $25.7 million contract in a sign-and-trade agreement with the Boston Celtics.

After several behavioral problems, the Magic decided to part ways with Davis. Some of Davis’ behavioral problems include and are not limited to a suspension for two games after an outburst during the team’s shootaround in February 2012. The NBA fined Davis $35,000 after flipping off Toronto fans after a Magic win over the Raptors in March 2012. In November 2013, a video surfaced on TMZ Sports showing Davis throwing a keyboard at a Travelodge motel in the middle of the night after being told they didn’t have any rooms available. Davis was fined by the Magic an undisclosed amount. The Magic are still responsible for Davis’ $6.6 million guaranteed salary for 2014-15 season.

The Magic waived Al Harrington [19] in August 2013 but are still on the hook for the veterans partially guaranteed salary.  Last season, the Magic paid Harrington $3.57 million of his $7.15 million contract and this coming season the Magic will have to pay the partially guaranteed $3.8 million of his $7.6 million salary.

Currently the Orlando Magic hold the No.4 pick and No. 12 pick of the 2014 NBA Draft. This would mean that they would spend about $3.3 million on the No.4 pick and $1.8 million on the No. 12 pick for the 2014-15 season. If the Magic decide to waive all six players they will have a little over $12 million to pursue other players.

Player 2014-15 Salary
Jameer Nelson $8,000,000 ($2 million guaranteed, fully if not waived by 7/15/14)
Arron Afflalo $7,500,000
Victor Oladipo $4,978,200
Nikola Vucevic $2,751,260
Jason Maxiell $2,500,000 (Guaranteed if not waived by 7/10/14)
Tobias Harris $2,380,594
Maurice Harkless $1,887,840
Andrew Nicholson $1,545,840
Ronnie Price $1,316,809 (Guaranteed if not waived by 7/10/14)
Doron Lamb $915,243 (Guaranteed if not waived by 7/01/14)
Kyle O’Quinn $915,243 (Guaranteed if not waived by 7/15/14)
Dewayne Dedmon $816,482 (Guaranteed if not waived by opening night)
Total $35,507,511

 

In Depth Look at Orlando's Financial Health by

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URLs in this post:

[1] Image: http://www.sportstalkflorida.com/wp-content/uploads/2012/05/Magic_Jameer_Nelson_10.jpg

[2] Jameer Nelson: https://twitter.com/jameernelson

[3] #Magic: https://twitter.com/search?q=%23Magic&src=hash

[4] June 17, 2014: https://twitter.com/DavidBaumannCBS/statuses/479021138132336641

[5] Image: http://www.sportstalkflorida.com/wp-content/uploads/2013/11/coach.jpg

[6] Kyle O’Quinn: https://twitter.com/Kyle_OQuinn

[7] Doron Lamb: https://twitter.com/DLamb20

[8] J.J. Redick: https://twitter.com/JJRedick

[9] Gustavo Ayon: https://twitter.com/AyonGustavo

[10] Ish Smith: https://twitter.com/ishsmith

[11] Beno Udrih: https://twitter.com/BenoUdrih1

[12] Tobias Harris: https://twitter.com/tobias31

[13] Dewayne Dedmon: https://twitter.com/d_dedmon3

[14] Maurice Harkless: https://twitter.com/moe_harkless

[15] Nikola Vucevic: https://twitter.com/NikolaVucevic

[16] Andrew Nicholson: http://twitter.com/nicholaf44

[17] Image: http://www.sportstalkflorida.com/wp-content/uploads/2012/05/Magic_Glenn_Davis_4.jpg

[18] Glen Davis: https://twitter.com/iambigbaby11

[19] Al Harrington: https://twitter.com/cheddahcheese7

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