The Magic are waiving veteran forward/center Jonathan Isaac, league sources tell Jake Fischer of The Stein Line (Twitter link).
Isaac has an $8MM guarantee on his $14.5MM salary for next season, so Orlando will save some money with the move, which had to be made by Sunday before the contract become fully guaranteed. The $44MM deal also included non-guaranteed seasons in 2027/28 and 2028/29, but those are wiped out now.
As we noted in our offseason preview for Front Office subscribers, the Magic have the option to stretch his $8MM in guaranteed money across seven years, reducing the annual cap hit to just $1.14MM. That would create significant immediate savings, but it would also make Isaac ineligible to sign a new deal with Orlando until his contract would have expired. If the Magic keep the $8MM payment on their books for the upcoming season, Isaac would be able to return on a new minimum-salary contract after he clears waivers.
More to come …
