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5 Best free agents the Orlando Magic could target in 2024

By Sam LaFrance

Jan 25, 2023; Orlando, Florida, USA; Indiana Pacers guard Buddy Hield (24) is guarded by Orlando Magic guard Markelle Fultz (20) in the second quarter at Amway Center. Mandatory Credit: Nathan Ray Seebeck-USA TODAY Sports
Jan 25, 2023; Orlando, Florida, USA; Indiana Pacers guard Buddy Hield (24) is guarded by Orlando Magic guard Markelle Fultz (20) in the second quarter at Amway Center. Mandatory Credit: Nathan Ray Seebeck-USA TODAY Sports /
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It has been three seasons since the Orlando Magic last made the playoffs in 2020. The front office started offloading players ahead of the 2021 NBA trade deadline and Orlando has been in rebuilding mode ever since.

During the past few years, their roster has undergone a near-full makeover with only Markelle Fultz and Jonathan Isaac remaining with the team. Names like Paolo Banchero, Franz Wagner and Wendell Carter headline a young Magic roster poised to push for a spot in the Play-In Tournament this year at the very least.

Last season, Orlando was able to add 12 wins to their 2022 total, claiming victory 34 times in the 2023 season. That improvement, alongside a lucrative $11 million salary, was enough to lure veteran wing Joe Ingles away from the Milwaukee Bucks in free agency.

Ingles could become the first of many free agents to head (close) to the Happiest Place on Earth as Orlando continues to build up their roster.

The Orlando Magic sat out free agency this offseason once again as they look to build with a similar roster. But they are biding their time and could look to free agency in 2024 to boost the team.

Orlando opted not to spend much of its cap room this offseason, guaranteeing several non-guaranteed contracts and retaining much of last year’s roster. The team flipped over cap room once again as they bide their time to find the right players to add to the mix.

Next summer the Magic have the most projected cap room at more than $96 million — which is defined as “cap space with cap holds renounced if team salary was below the cap maximum. Assumes veteran club options declined and non-guaranteed players released,” per Spotrac.

Of course, to have that much money in cap space, Orlando has to have expiring contracts of their own. Markelle Fultz, Cole Anthony, Chuma Okeke, Gary Harris, Goga Bitadze and Joe Ingles (team option) will all likely become free agents in 2024.

Orlando will certainly be considering extensions for Fultz and Anthony ahead of the season. And they will have to plan for Paolo Banchero and Franz Wagner’s impending free agency in 2026 and 2025. But the team will once again have some money to spend even considering all of this.

For the purpose of this piece, we will focus on free agents of other teams, rather than Orlando’s own.