Magic Cap Space Update: How Much Can Orlando Spend in Free Agency?

The Magic have money to spend.

Jeremy Brener | Jun 28, 2022

Magic Cap Space Update: How Much Can Orlando Spend in Free Agency? /

ORLANDO - With the draft officially in the rearview mirror, the Orlando Magic can begin to gear up for free agency.

While free agency doesn't technically begin until early July, the NBA moratorium period kicks off Thursday at 6 p.m. and free agents can begin agreeing to deals with teams.

The Magic head into free agency with 10 players under contract next season. Power forward Jonathan Isaac, point guard Markelle Fultz, center Wendell Carter Jr. and wing Terrence Ross are the only players guaranteed to make more than $10 million. Together, the quartet make just under $60 million, leaving the team with a lot of wiggle room to work with.

Jalen Suggs, Franz Wagner, Cole Anthony, Chuma Okeke and RJ Hampton are all still working on their rookie deals. Together, the five young players make a combined $21.6 million.

This gives the team $27.52 million in cap space to work with, which ranks second in the league behind the Detroit Pistons.

Part of that $27.52 million will go into signing rookies Paolo Banchero and Caleb Houstan, but the team will have a considerable amount of money to work with still.

A big portion of that money will go into re-signing Mo Bamba or finding his replacement. The former No. 6 overall pick is set to make his first big NBA payday this summer, and as a restricted free agent, the Magic will have an opportunity to match any offer another team could make him.

With the bags of money the Magic have up its sleeves this summer, Orlando could be aggressive and sign players like Deandre Ayton or Miles Bridges, but with several young players already given a considerable investment, the Magic are likely to have another quiet offseason.

The team could make big jumps in free agency, but a team not ready to contend like Orlando could be a really hard sell for this summer's batch of free agents.

Published Jun 28, 2022

JEREMY BRENER

Jeremy Brener is an editor, writer and social media manager for several Fan Nation websites. His work has also been featured in 247 Sports and SB Nation as a writer and podcaster. Brener has been with Fan Nation since 2021. Brener grew up in Houston, going to Astros, Rockets and Texans games as a kid. He moved to Orlando in 2016 to go to college and pursue a degree. He hosts "The Dream Take" podcast covering the Rockets, which has produced over 350 episodes since March 2020. Brener graduated in May 2020 from the University of Central Florida with a Bachelor's degree in Broadcast Journalism minoring in Sport Business Management. While at UCF, Brener worked for the school's newspaper NSM.today and "Hitting the Field," a student-run sports talk show and network. He was the executive producer for "Hitting the Field" from 2019-20. During his professional career, Brener has covered a number of major sporting events including the Pro Bowl, March Madness and several NBA and NFL games. As a fan, Brener has been to the 2005 World Series, 2010 FIFA World Cup and the 2016 NCAA National Championship between the Villanova Wildcats and North Carolina Tar Heels. Now, Brener still resides in the Central Florida area and enjoys writing, watching TV, hanging out with friends and going to the gym. Brener can be followed on Twitter @JeremyBrener. For more inquiries, please email jeremybrenerchs@gmail.com.