Magic, Turkoglu Making Progress On Buyout Talks

The Magic have engaged in buyout talks for Hedo Turkoglu's contract, and are making progress, according to Adrian Wojnarwoski of Yahoo! Sports (via Twitter). Turkoglu is in the last year of his deal, but only $6MM of his $12MM salary is guaranteed, so Orlando could save at least $6MM by releasing him.

GM Rob Hennigan had indicated late last month that he expected to talk to the agents for Turkoglu and Al Harrington in the near future, presumably to discuss buyouts. Like Turkoglu, Harrington has a contract that's only 50% guaranteed, though his deal is for two more years rather than just one.

If the Magic and Turkoglu were to reach an agreement, he'd be waived, would become an unrestricted free agent, and would be able to sign with any team besides Orlando. However, as Josh Robbins of the Orlando Sentinel tweets, there's no real rush to complete a buyout. Turkoglu's contract has no guarantee date on it, so the Magic aren't on the hook for that full $12MM until January 10th.

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