Where the Magic Currently Stand with Cap Space, Roster Vacancy

With one roster spot left to fill, here's where the Orlando Magic currently stand with their salary cap space heading into the 2024-25 season.

Orlando Magic forward Franz Wagner (22) passes the ball as Denver Nuggets guard Kentavious Caldwell-Pope (5) guards in the second quarter at Ball Arena. / Isaiah J. Downing-USA TODAY Sports

ORLANDO — After the Orlando Magic made one of the first big moves of NBA free agency — signing Kentavious Caldwell-Pope to a three-year, $66 million deal — they've kept their roster mostly intact this offseason.

Orlando re-signed four veterans to new deals:

• Guard Gary Harris, two years, $15 million;
• Center Moe Wagner, two years, $22 million;
• Center Goga Bitadze, three years, $25 million; and
• Defensive star Jonathan Isaac, five years, $84 million.

Markelle Fultz is the lone remaining free agent from Orlando's playoff team last season. Joe Ingles left for a one-year deal with the Minnesota Timberwolves on Wednesday.

With these moves accounted for, Spotrac projects Orlando to have just over $8.6 million in cap space, fourth-most in the NBA. With that money to spend and one roster vacancy to fill, the Magic have multiple options:

• Re-sign Fultz back and run it back with last year's team plus KCP.
• Consider using their mid-level exception, which is worth $8 million. A team that made the playoffs last season could be enticing for a player looking to join a contender.

Gary Trent and Luke Kennard are two of the best shooters left in free agency. Trent, a 6-foot-5 shooting guard, shot better than 38 percent on his 3-point attempts last season. Kennard has been one of the league's best 3-point shooters since entering the league, shooting 43.9 percent for his career.

Orlando also could add a player on a veteran minimum deal. That could give the Magic the flexibility to front-load contracts for this season and make more room for Jalen Suggs, Franz Wagner and Paolo Banchero's contracts in the upcoming years.

Related stories on the Orlando Magic

• WHY SIGNING KCP WAS THE RIGHT MOVE FOR ORLANDO: While the Orlando Magic were in the sweepstakes for Paul George before he agreed to a deal with the Philadelphia 76ers, signing Kentavious Caldwell-Pope and having the cap space to add other pieces was the right move. CLICK HERE
• MAGIC RE-SIGN MOE WAGNER: The Orlando Magic continued to keep their playoff team intact by re-signing center Moe Wagner to a new two-year contract. CLICK HERE
• MAGIC RE-SIGN GARY HARRIS: The Orlando Magic on Monday made 10-year veteran Gary Harris the second free agent to be re-signed. CLICK HERE
• JOE INGLES GOES TO TIMBERWOLVES: Joe Ingles is the first Orlando Magic player to depart after agreeing to a one-year deal with the Minnesota Timberwolves. CLICK HERE