Orlando Magic 2023 Offseason Calendar: A lot to get to in important offseason
2023 Orlando Magic Offseason Calendar
June 30: Contract Deadlines
July 1: Free Agency Begins
The Orlando Magic are in one of the most interesting positions throughout the offseason. But they are also in an extremely flexible position. They can essentially map out what kind of summer they are going to have. And they will give us lots of clues about what they will do along the way.
The Draft is obviously the first clue to this process. They will let everyone know how aggressive they will be and what roles they fill based on their two draft picks.
An aggressive trade changes the calculus for free agency just as adding a shooter or similar role players in the draft checks off certain boxes for this team’s future and development.
The biggest clue to what the Magic will do in free agency will actually come in the days before free agency starts.
Orlando is expected to be one of the teams with significant cap room this offseason. Jeff Weltman has done an incredible job creating tons of flexibility within his roster. The team has 14 players (plus two two-way contracts) under contract for next season. But six of those are at least partially guaranteed for next year.
The Magic have until June 29 to exercise team options on Michael Carter-Williams, Admiral Schofield and Bol Bol. They would also have until June 30 to guarantee Markelle Fultz and Gary Harris’ contracts. If both of those players are on the roster past that date, their contracts become fully guaranteed.
It feels pretty safe that Carter-Williams and Schofield will have that option declined. Bol is certainly a bit more up in the air (at $2.2 million, that is a small salary on the books). It also feels pretty certain Fultz will remain on the roster.
But there is at least some question on whether Harris will stick around. The Magic obviously have Jalen Suggs whom the team might push more to the front. And there are certainly some discussions of the Magic targeting free-agent guards like Fred VanVleet or Gary Trent Jr. among others.
The Magic would not be able to chase a max player without letting Harris go.
As things stand entering the offseason, the Magic have $59.8 million guaranteed toward next season. If the Magic take Jonathan Isaac’s contract as guaranteed and keep Markelle Fultz (a safe bet), that adds $24.8 million (both Fultz and Isaac have some guarantees on their deals).
Before dealing with Harris or the two draft picks, the Magic are at $84.6 million. The two draft picks if they land at No. 6 and No. 12 as expected would add $10.5 million. That would leave the Magic with $95.1 million on their cap sheet entering the offseason.
The salary cap is expected to come down at $134 million. That leaves the Magic with roughly $38.9 million in cap room before Harris’ contract becomes guaranteed.
Harris would eat up $13 million of that. So the Magic should be in the neighborhood of $25.9 million in cap room even if they retain Harris.
If Orlando is going to chase after a max free agent like VanVleet, they will signal that by letting Harris go into free agency themselves and waiving the final year of his contract. They could also be signaling their willingness to eat more salary in a trade. That option will always be there if the Magic are planning to be active on the trade market.
It is indeed a summer of possibility.