Sources indicate that Portland, who has cleared additional cap space, is leading the charge to sign Hedo Turkoglu, while another suitor could include the Raptors.

Orlando acquired Vince Carter via trade last Thursday as insurance in case they were unable to re-sign Turkoglu.

The Magic aren't expected to be able to match offers for restricted free-agent center Marcin Gortat.

Gortat made just $770,000 this past season, and Orlando general manager Otis Smith said that the team would be out of the running to retain him if the offers "were north of 5 [$5 million per season.]"

Houston seems like a possible fit for Gortat with news of Yao Ming's latest serious health setback.

The Magic offered forward Hedo Turkoglu a four-year, $35 million extension shortly after the NBA Finals.

Turkoglu rejected the offer and ultimately opted out of the final year in his contract to become an unrestricted free agent.

Orlando acquired Vince Carter, who still has $33.6 million on his contract, on Thursday, which many believe spells the end for Turkoglu.

"It's going to be hard, but it's not out of the question, and it's certainly not out of our focus," president Bob Vander Weide said of re-signing Turkoglu. "We didn't do (the Carter trade) thinking automatically that Turk won't be here. What you try to do in this league is collect assets, but occasionally you have to move those assets for something that's a better fit. We still see Turk as an asset, and we'll try to get something done, but we won't know for a week or so what kind of deal we're up against."

Anthony Johnson has officially exercised his player option for 2009-10, according to a source within the Magic organization.

Johnson's salary for the 09-10 season is believed to be worth just under $2.063 million.

Johnson appeared in 80 regular season games and 19 playoff games for the Eastern Conference Champions.

Vince Carter is thrilled to be playing for a title contender so close to his home.

"Seriously, I'm still pinching myself," said Carter. "I'm coming home to play for a team that has a legitimate shot. Is this real?"

According to a Twitter post from Ric Bucher, Portland has interest in both Andre Miller and Hedo Turkoglu.

In order to acquire Miller, the Blazers would likely have to complete a sign and trade transaction.  

But if Portland secures Turkoglu, it would likely be a free agent signing.

The Magic are expected to pursue free-agent forwards Rasheed Wallace and Brandon Bass this week.

Two NBA sources told Fan House that Orlando is interested in Wallace and Bass.

The Magic traded for Vince Carter on Thursday, and are now expected to let Hedo Turkoglu walk in free agency.

Wallace is expected to be pursued by both the Magic and Celtics, while Bass will be one of the best reserves on the market.

The Orlando Magic have acquired eight-time NBA All-Star guard Vince Carter and forward Ryan Anderson from the New Jersey Nets in exchange for guard Rafer Alston, forward-center Tony Battie and guard Courtney Lee, General Manager Otis Smith announced this evening.

?Vince (Carter) gives us a veteran, go-to scoring presence, especially at the end of games,? Smith said.  ?Our goal remains the same ? to win a championship.  Any time you can add an All-Star to help you reach your goals, you have to do it.  Vince has been a bonafide scorer in this league for 11 seasons and we are excited to add both him and Ryan (Anderson) to our team.  We thank Rafer, Tony and Courtney for their efforts and wish them success in the future.?

?The trade we made today provides our franchise with numerous options in the long-term development of our team,? said Nets boss Rod Thorn.  ?We believe that in Courtney Lee, we have acquired a young, dynamic player who will be a very good player in this league for a number of years.  Rafer Alston has proven to be a quality player in this league for a number of years, and Tony Battie will provide a strong veteran presence off the bench."

The New Jersey Nets have agreed in principal to send Vince Carter and Ryan Anderson to the Orlando Magic for Rafer Alston, Tony Battie and Courtney Lee, two league executives told Yahoo! Sports.

The New Jersey Nets are in serious talks with the Magic about a deal that will send Vince Carter to Orlando for Rafer Alston, Tony Battie and Courtney Lee, two league sources told Chad Ford of ESPN.com.

The talks have reached a point that a deal could be done by the end of the day Thursday, according to sources.

Trading for Carter would likely mean the Magic don't expect to retain Hedo Turkoglu.