Zavier Simpson has agreed to a deal with the Orlando Magic. 

Simpson went undrafted in 2020 out of Michigan and played in four NBA games last season with the Oklahoma City Thunder. Simpson averaged 11.0 points, 5.3 rebounds and 7.5 assists in 43.5 minutes.

Simpson also averaged 14.6 points, 5.1 rebounds and 6.5 assists in 32.4 minutes over 35  G League games with the Blue.

Paolo Banchero has agreed to an endorsement deal with Jordan Brand. Banchero was the first overall pick in the 2022 NBA draft by the Orlando Magic after a single season at Duke.

Banchero joins Luka Doncic, Zion Williamson, Russell Westbrook, Chris Paul and others as Jordan Brand athletes. 

The Orlando Magic have signed wing Kevon Harris to a Two-Way contract. Orlando has now filled both Two-Way spots after Admiral Schofield re-signed last week.

Harris played for Raptors 905 in the G League last season. In 35 games (30 starts), Harris averaged 14.8 points, 5.7 rebounds and 1.5 steals.

The 6-foot-6 wing played for Minnesota at Las Vegas Summer League. Harris averaged 15.8 in 27.1 minutes per game over five games in Las Vegas.

The Orlando Magic have re-signed Admiral Schofield on a two-way deal, sources told Khobi Price of The Orlando Sentinel.

Schofield averaged 3.8 points and 2.3 rebounds for the Magic last season. 

The Orlando Magic decided to shut down Paolo Banchero for the rest of summer league after playing two games.

"I want to give these other guys an opportunity to play, to kind of be able to show what they're capable of doing," said Magic coach Jamahl Mosley on the decision.

Banchero averaged 20 points, 6 assists, and 5 rebounds over his two games.

The team is also expected to shut down Admiral Schofield and R.J. Hampton for the rest of competition.

Banchero said he was happy with his performance overall.

"I was happy with the way I played but there was a lot I could improve on. The second game I had a lot of turnovers. Just getting in even better shape. I felt like, those were my first two games, so just build my wind back up. But overall, I think I did pretty good."

The Orlando Magic have signed second round pick Caleb Houstan. It's expected that Houstan got a multi-year deal from the Magic.

Houstan was an Early Entry candidate at the 2022 NBA Draft after playing one season at Michigan. In 34 games for the Wolverines, Houstan averaged 10.1 points on 35.5% shooting from behind the arc. At 6-foot-8, Houstan is considered to have great size for a wing shooter in the NBA.

The Houston Rockets reached out to the Orlando Magic about a trade up once they were convinced Paolo Banchero would be selected at No. 1, sources told ESPN. 

For weeks, Jabari Smith was mocked to go to the Magic at No. 1, followed by Chet Holmgren to the Oklahoma City Thunder at No. 2, and Banchero to the Rockets at No. 3.

"We didn't know [Orlando was taking Banchero] until 10 minutes before the draft," Rockets general manager Rafael Stone said.

"I didn't hear from the Magic telling me for sure until a few minutes before," said Mike Miller, Banchero's agent.

The Rockets wouldn't have made an offer if they were certain Smith would slide to them at No. 3. Houston was concerned about having to make a decision on Holmgren without time to process his medical information.

"When [the odds] shifted, we noted it," Stone said. "If people are willing to put their money on it, especially when you see a big swing like that, it feels like maybe somebody knows something."

Houston hadn't met with Smith before the draft, though they'd done extensive scouting and research on him. 

The Magic listened to the offer from the Rockets but firmly passed. The discussion was brief and the Magic were clear a deal was highly unlikely. 

The Magic ultimately called in their selections well ahead of the five-minute time limit, which didn't give them an offer to hear any last minute offers. 

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

The Magic acquired Bol during the Bryn Forbes trade. Denver had previously tried to trade him to the Detroit Pistons. 

Bol's season ended early last season due to foot surgery.