Report: Magic Willing to Offer "Big Money" to Kentavious Caldwell-Pope & Klay Thompson

With just over $50 million in cap space, the Orlando Magic may have their sights on Kentavious Caldwell-Pope and Klay Thompson when free agency begins on Sunday.

Apr 20, 2024; Denver, Colorado, USA; Denver Nuggets guard Kentavious Caldwell-Pope (5) reacts to a three point shot during the third quarter against the Los Angeles Lakers in game one of the first round for the 2024 NBA playoffs at Ball Arena. Mandatory Credit: Andrew Wevers-USA TODAY Sports / Andrew Wevers-USA TODAY Sports

ORLANDO — The 2024 NBA Draft is over, so front offices can now turn their full attention to NBA free agency. 

After an impressive turnaround last season that saw the Orlando Magic make the playoffs for the first time since 2020, they have just over $50 million in cap space to potentially try and enhance their roster. Recent reports have indicated Orlando won’t be shy about offering large contracts to players like Golden State Warriors guard Klay Thompson and Denver Nuggets guard Kentavious Caldwell-Pope. 

“The Magic are one of the few teams in playoff contention with cap space, along with OKC. They have nearly $50 million in space to use, with Jonathan Isaac being the highest-paid player on roster at $17 million for next season. League sources suggest the Magic are willing to offer the Warriors' Thompson or Caldwell-Pope short-term, big money deals starting at two years, $50 million,” according to NBA writer Matt Moore. 

Last season, the Magic struggled to shoot the ball from deep. Orlando ranked 23rd in 3-point percentage and last in threes made per game.

Caldwell-Pope, 31, is one of the better three and D players in the league and declined his $15.4 million player option with the Denver Nuggets. However, the two-time NBA champion’s wisdom could be valuable for a Magic team that was the fifth-youngest in the league last season. 

Likewise, Thompson, 34, is one of the best shooters in NBA history, ranking sixth all-time in 3-pointers made. Still, after experiencing a decline in his abilities following an Achilles and ACL tear in recent years, it appears that he’s unlikely to re-sign with the Golden State Warriors. Thompson would also bring a wealth of experience having won four championships with Golden State.

Given that Gary Harris, who was Orlando’s primary starting shooting guard from last season, is a free agent, the Magic’s interest in two of the better players on the market at that position makes sense, especially considering that both Thompson and Caldwell-Pope shot roughly 40 percent from long range last season.

Orlando could be an attractive free agency destination for the veteran sharpshooters when the negotiating period of free agency begins on Sunday at 6 p.m. ET.

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