Michael Carter Williams will miss the start of the 2021-22 season following offseason surgery. Carter-Williams had surgery to remove a bone fragment and to repair a ligament in his left ankle. He's expected to make a full recovery, but his return to basketball activities is unknown at this point.

Carter-Williams is entering this fourth season with the Magic. He originally signed with Orlando on a 10 Day contract during the 2018-19 season. He's become a key backup guard and wing defender for the Magic over the past three seasons.

The 2014 Rookie of the Year is on the final year of his contract with Orlando. Carter-Williams is set to become an unrestricted free agent in the 2022 offseason. With the Magic having added several young guards in the past year, it's unknown what Carter-Williams' future will be in Orlando.

The NBA salary cap is projected to increase from $112 million to $119 million from 21-22 to 22-23, but ESPN projects only three teams to have cap space.

The Detroit Pistons, Orlando Magic and San Antonio Spurs are expected to have a minimum of $30 million in room. The Sacramento Kings could have $22 million in cap space should they let Marvin Begley Jr. walk in free agency.

For comparison, five teams had cap space this offseason and four in 2020.

The Orlando Magic will sign Ignas Brazdeikis to a Two-Way contract.

Brazdeikis appeared in eight games last season for the Magic, averaging 11.1 points, 5.1 rebounds and 2.0 assists in 29.2 minutes. 

Brazdeikis was a second round pick in 2019 out of Michigan. 

The Orlando Magic have waived guard Dwayne Bacon.

Bacon (6’6”, 221, 8/30/95) appeared in all 72 games (50 starts) last season with Orlando, averaging 10.9 ppg., 3.1 rpg. and 1.3 apg. in 25.7 minpg., while shooting .824 (145-176) from the free throw line. He was one of only 11 players in the NBA to play in all 72 regular season games.

The Orlando Magic have agreed to a two-year deal with Moe Wagner.

Wagner averaged 11.0 points, 4.9 rebounds and 1.1 assists in 26.0 minutes over 11 games after joining the Magic at the end of last season. 

The Magic selected Wagner's brother, Franz Wagner, with the No. 8 pick in the 2021 draft.