Hedo Turkoglu, Magic working on buy-out
The Hedo Turkoglu era in Orlando is officially coming to an end, as the Magic and the 34-year old Turkoglu are in the process of reaching a buy-out. An official buy-out has not exactly been agreed upon yet, although Magic officials are working out the details with Hedo’s camp, and expect to have some sort of an agreement reached soon.
Despite the two sides not coming together just yet, the Magic have made it clear that Turkoglu will not play for the team this season.
“Our organization has a great deal of respect for Hedo and the contributions he’s made to the team over the years,” Magic General Manager Rob Hennigan told the Orlando Sentinel.
“We’ve made an organizational decision to move in a different direction. During the pendency of our buyout negotiations, we’ve mutually agreed to have Hedo remain with his family while we work toward an agreement.”
Per Josh Robbins of the Orlando Sentinel:The 2013-14 season is the final year of Turkoglu’s contract, and only $6 million of his $12 million in remaining salary is guaranteed.
The full $12 million amount won’t become fully vested until Jan. 10, which is the day when any remaining nonguaranteed contracts throughout the league become fully guaranteed.
So why haven’t the Magic just waived Turkoglu already?
On one hand, team officials want to negotiate a buyout for under $6 million.
But — and perhaps more importantly to them — the Magic seem to regard Turkoglu’s contract as an asset and want to hold onto the contract until they’re convinced they’ve exhausted all options for a potential trade.
Turkoglu doesn’t want to rot away on the Magic’s bench all season. The buy-out, while offering Hedo less money, would benefit the vet, by opening his options to sign with a contender. The Magic have to make this move to provide vital minutes to youngsters, Moe Harkless and Tobias Harris, as the team looks to build something special in the coming years.