The Orlando Magic were expected to be active in free agency, even with the limited resources they had available to complete their roster.
With the acquisition of Desmond Bane from the Memphis Grizzlies in early June, the Magic made one of the biggest splashes in the offseason and staked a claim to the contending class in the Eastern Conference. Orlando's expectations are certainly higher now.
There was still work to do in free agency, even with the team only having the mid-level exception to spend on three roster spots.
Orlando went big there too, agreeing to sign Tyus Jones to a one-year, $7-million deal.
But that move put the Magic in a precarious financial position. They are now hard-capped at the first apron after using the non-taxpayer mid-level exception to sign Jones. Because the team is now over the luxury tax, they are bumping up against that hard cap.
And they still have work to do.
Orlando has many fewer resources now to add to the team. And the next move for the team is abundantly clear -- retaining Moe Wagner.
How the Magic will do that is going to be the challenge.
Magic have a tight window to retain Moe Wagner
By all indications, the Orlando Magic are interested in retaining Moe Wagner. Tim Reynolds of the Associated Press and Jason Beede of the Orlando Sentinel heavily hinted at the expectation that Wagner would return to the Magic this season.
Orlando had to decline Wagner's team option to sneak under the luxury tax to gain access to the mid-level exception. It was all procedural. It is no surprise that Wagner was set free to free agency.
But because the Magic used the non-taxpayer mid-level exception, they are hard capped at the first apron of $195.9 million.
Orlando, including the Tyus Jones deal and estimated deals for Jase Richardson and Noah Penda, is a little less than $6.8 million below the first apron line.
That is all the Magic can spend to retain Moe Wagner and fill the last roster spot -- potentially for Caleb Houstan. There are no exceptions to a hard cap.
Unless the Magic have a trade to shed salary -- Jett Howard is a good candidate at $5.5 million and he could potentially be a stretch candidate to free up to $10.5 million in room under the first apron -- they will essentially cut Wagner's salary in half from the option they declined.
The Magic's offense is significantly better now with the additions of Desmond Bane and Tyus Jones, but they still need reliable scoring off the bench. Wagner has been a perfect fit with the team.
Wagner averaged a career-high 12.9 points per game. But he tore his ACL in December. He is not likely to return until around Christmas at the earliest -- January is a better bet.
The question for the Magic is how long they can wait for Wagner. With their center rotation and Goga Bitadze, they can be patient. Bitadze is a reliable backup big and a luxury as a third center.
It will just be about what price the Magic can get him at. And figuring that out is the challenge for the rest of the Magic's summer.
Magic still need to solidify their frontcourt
The Orlando Magic have done a lot of work to reshape their backcourt this offseason. But they still need to add some depth to the front court and boost their bench scoring.
That is why Moe Wagner is so vital. He is an excellent scorer in many ways. But Orlando still has more to do to finalize this team.
Adding Desmond Bane was a clear upgrade to the starting shooting guard spot. The Magic have swapped out Cole Anthony for rookie Jase Richardson and late-season starting point guard Cory Joseph for Tyus Jones.
Undoubtedly, that is a major upgrade to a team that struggled to get consistent scoring from guards. If the Magic were interested in taking a major step forward, the team addressed many of its backcourt, playmaking and shooting needs.
With two roster spots remaining, the Magic need to work to solidify the frontcourt.
Right now, Orlando is working with a forward rotation behind Paolo Banchero and Franz Wagner of Tristan da Silva, Jett Howard, Jonathan Isaac and Noah Penda. Anthony Black could moonlight some at the three, as can Desmond Bane.
The Magic are expected to tighten their rotation to play more of their starters together. Banchero and Wagner have a history, besides last season, of being reliable players with their availability. They will still play the bulk of the minutes.
But still a lot of it depends on Isaac playing more than 15 minutes per game and being more reliable on offense. He is a mystery after his frustrating season last year.
The lack of consistent offensive options off the bench makes retaining Moe Wagner that much more important. The Magic need scoring still, even as they have reshaped their offensive personnel in seemingly significant ways.
It also suggests the Magic need more than just Wagner to finish this roster, especially considering Wagner is likely to miss the first half of the season (and may not be fully up to speed as he recovers from his injury).
Bringing Wagner back is vital to this team. The center options around the league have almost dried up -- Deandre Ayton is the best center option available -- and the Magic still need to boost their front court.
Orlando should be looking to bring back Wagner on a solid number -- $5 million sounds reasonable, but a minimum deal is possible -- and then add a veteran forward to fill out the rest of the roster.
The window to do so is a very tight one though. The Magic have their work cut out for them.