Michael Carter-Williams has agreed to a two-year deal with the Orlando Magic. Carter-Williams' contract will cover the rest of this season, with Orlando holding a team option for next season.

Carter-Williams last played in the NBA during the 2020-21 season with the Magic. He averaged 8.8 points, 4.5 rebounds and 4.2 assists in 25.8 minutes over 31 games (25 starts).

The 2014 Rookie of the Year missed last season while recovering from offseason surgery on his left ankle. The Magic waived Carter-Williams at the 2022 trade deadline when they needed to clear roster spots for deadline maneuvering.

The Orlando Magic have waived RJ Hampton.

Hampton appeared in 26 games with the Magic this season, averaging 5.7 points, 1.5 rebounds and 1.3 assists in 13.9 minutes.

Hampton was the 24th overall pick in 2020 and traded by the Denver Nuggets to the Magic as part of the 2021 Aaron Gordon deal.

The Orlando Magic have signed free agent center Goga Bitadze.

Bitadze (6’11”, 230, 7/20/99) has played in 21 games this season with Indiana, averaging 3.3 ppg. and 2.3 rpg. in 9.6 minpg., while shooting .519 (27-52) from the floor. He led (or tied) the Pacers in rebounding once. 

Originally selected in the first round (18th overall) of the 2019 NBA Draft by Indiana, Bitadze has played in 170 career NBA regular season games (21 starts), all with the Pacers, averaging 4.8 ppg. and 2.8 rpg. in 11.5 minpg.

The Orlando Magic officially waived Patrick Beverley on Sunday.

Beverley was acquired along with a second-round pick at the trade deadline for Mo Bamba. 

The Magic are currently negotiating a buyout with Terrence Ross and may waive R.J. Hampton. 

The Orlando Magic are considering a buyout or straight waiver for guard R.J. Hampton. Orlando has already agreed to buy out veterans Patrick Beverley and Terrence Ross.

The Magic declined Hampton's fourth-year rookie scale team option. That signaled that the guard's time with the team was likely growing short.

Orlando acquired Hampton in a 2021 trade deadline deal that sent Aaron Gordon to the Denver Nuggets. After playing over 20 minutes in his first year-plus with the Magic, Hampton's playing time has fallen off in his second full season in Orlando.

Terrence Ross is set to sign with the Phoenix Suns after his contract is bought out by the Orlando Magic, sources told Adrian Wojnarowski of ESPN.

Mat Ishbia and Monty Williams played a key role in convincing Ross, who was rumored to go to the Mavs, to instead join the Suns.

Ross, currently negotiating a buyout with the Magic, can clear waivers and sign with the Suns early next week. 

The Orlando Magic and wing Terrence Ross are working towards a buyout. The Dallas Mavericks are the frontrunners to sign Ross when he clears waivers from Orlando.

Ross has seen his playing time drastically reduced this season with the Magic. In 42 games, he's averaged 8.0 points on 43.1% shooting from the field, including 38.1% on three-pointers.

Ross will likely give back a portion of his $11.5 million salary for this season. If Ross signs with the Mavericks, the max they can offer him is a prorated veteran minimum contract.

Terrence Ross is a potential buyout candidate after he was not traded at the deadline by the Orlando Magic, sources tell Michael Scotto of Hoopshype.

Ross re-signed with the Magic on a four-year, $54 million deal in 2019. 

On his expiring contract, Ross is averaging 8.0 points, 2.0 rebounds and 1.3 assists in 22.5 minutes over 42 games with the Magic.

Ross is represented by Aaron Mintz of CAA.

The Minnesota Timberwolves are not expected to pursue Patrick Beverley if he becomes available following a buyout with the Orlando Magic.

Beverley was traded by the Los Angeles Lakers to the Magic for Mo Bamba at the deadline. 

The Wolves traded Beverley to the Utah Jazz last summer as part of the Rudy Gobert deal.

The Los Angeles Lakers have agreed to trade Patrick Beverley and a second round pick to the Orlando Magic for Mo Bamba. 

Bamba gives the Lakers frontcourt depth around Anthony Davis after trading away Thomas Bryant.