11:05pm: The trade is now official, according to a Magic press release.
According to Wojnarowski, Orlando is receiving a future second-round pick and cash in return for the 33rd overall pick. The second-rounder going to the Magic from L.A. is the Pistons’ pick for 2026, tweets Andrew Greif of The Los Angeles Times.
Preston, 21, built a reputation as a sharpshooter at Ohio University, connecting at 51.4% from the field and 39% from three-point range as a senior while averaging 15.7 points per game. He earned first-team All-MAC honors and was named MVP of the MAC Tournament.