10:45pm: The Nets have sweetened their offer to the Magic, sources tell Jarrod Rudolph of RealGM. New Jersey is not sure a deal will happen, though, as Orlando has been reluctant to answer calls. (Twitter links)
10:27pm: Wojnarowski updates with a story indicating that the Magic is moving "quickly" to trade Howard, with the Nets and Rockets making pushes.
8:09pm: Multiple league executives are telling Adrian Wojnarowski of Yahoo! Sports that the Magic are firm in their decision to trade Howard before tomorrow's deadline. (Twitter link)
7:53pm: Josh Robbins of the Orlando Sentinel says a spokesman for the Magic has confirmed Stein's story that Howard will not waive his ETO. (Twitter link)
It's a reversal from his earlier indication to the team today that he would elect to stay with the Magic for the final season of his contract, which would pay him $19.57MM.
According to Stein's sources, Howard and agent Dan Fegan told the team about his latest move in a conference call with Magic CEO Alex Martins, owner Rich DeVos and members of the DeVos family before Orlando's game in San Antonio tonight. Howard said in the call that the Magic are still his first choice.
Stein reports that Howard originally said he would opt in because he "didn't fully understand the ramifications" of doing so, and felt pressure from the Magic, who told him he would be traded by the deadline tomorrow if he didn't commit to at least one more year in Orlando, the sources said.
The Magic is continuing to field offers for Howard. The team had given D12 until the end of the day to sign the paperwork declaring that he was waiving the ETO. Ken Berger of CBS Sports tweets that the team is not caught off guard by the latest development, citing team executives who aren't surprised by anything given Howard's waffling of late.