5:05 PM: The deal includes a provision that restricts the Raptors and Magic from trading with one another through the end of the 2017/18 season, Chams Charania of The Vertical reports (Twitter feed). This type of provision is common for teams trading executive/coaches, as it the league doesn’t want teams to make side deals. The last trade involved pick compensation for an executive was Boston’s Doc Rivers deal. The Clippers and Celtics were forbidden to trade with one another for the entire 2013/14 campaign once the trade was completed.
1:26 PM: The Raptors will receive a 2018 second-round pick from the Magic as compensation for Orlando’s decision to hire Jeff Weltman as President of Basketball Operations, Adrian Wojnarowski of The Vertical tweets. The pick will be the lesser of two that the Magic currently control, Wojnarowski adds.
Orlando possesses an extra second-rounder as a result of a 2012 trade with the Lakers. The Raptors had traded away their second-round pick for next season to the Suns as part of the P.J. Tucker deal this February, so this agreement puts them back in the second-round mix.
Weltman reached a five-year agreement with the Magic on Monday. He had been Toronto’s GM, working under Raptors President Masai Ujiri.