After acquiring Gilbert Arenas, Jason Richardson and Hedo Turkoglu in a pair of trades on Saturday, the Magic have reassessed their goals this season.

"Nothing short of a championship," one league source told Adrian Wojnarowski of Yahoo! Sports.

The Magic want to sign Dwight Howard to a contract extension this summer and general manager Otis Smith felt he had to make moves in order to convince the center that they are committed to winning.