Dan Tracy and David Damron of the Orlando Sentinel report: Stopped cold in their drive for a new arena, the Orlando Magic on Friday evening began pushing a $75 million plan to renovate the TD Waterhouse Centre.

Details were sketchy, but the proposal relies heavily on Florida and Orange County taxes. The Magic promised to spend some of their cash, too, but would not say how much.

If the Magic have their way, remodeling could begin next spring, at the end of the upcoming NBA season. Construction would take 18 months.

With a redone arena, the Magic would be willing to extend their lease at the city-owned facility to the 2014-15 season, 10 years after the current contract expires. That, however, would not preclude franchise executives from launching a new arena drive when the agreement expires.