6:19pm: Orlando saved itself approximately $315K by claiming Copeland as it allowed the team to reach the $63MM salary floor, Bobby Marks of The Vertical on Yahoo Sports explains (via Twitter).
5:30pm: The Magic intend to waive Copeland within the next 24 hours, Charania writes in a full-length story. The moves to claim and subsequently waive Copeland are being made to get Orlando above the minimum salary floor, Josh Robbins of The Orlando Sentinel tweets.
4:17pm: The Magic have claimed combo forward Chris Copeland off of waivers, Shams Charania of The Vertical on Yahoo Sports reports (Twitter link). The addition of Copeland will give Orlando 15 players on its roster, which is the regular season maximum. No formal announcement has been made by the team, but the move had to have taken place prior to 4:00pm Central, which is when Copeland would have officially become a free agent.
Copeland was waived by the Bucks on Monday in order to clear a roster slot for the signing of Steve Novak. Orlando is utilizing a portion of the $8,193,029 trade exception that was created as part of the deal that shipped Channing Frye to the Cavaliers since Copeland earns more than the minimum salary. The Magic will now be responsible for the remainder of Copeland’s $1.1MM salary for 2015/16 and his entire cap hit.
The Bucks had signed Copeland this past offseason, but the veteran never made much of an impact with the team. The 31-year-old is averaging 2.1 points and 0.5 assists in 6.5 minutes per game this season.