Two-time NBA champion Kentavious Caldwell-Pope intends to sign a 3-year, $66 million deal with the Magic, according to multiple reports.
The deal was agreed upon Sunday night after NBA free agency opened at 6 p.m. ET to allow teams to negotiate contract with other upcoming free agents.
Orlando was one of few teams around the league with significant cap space to purse high-spending free agents, and Caldwell-Pope fits the bill for Jamahl Mosley‘s squad.
After helping the Lakers capture a championship inside the Orlando bubble in 2020, Caldwell-Pope helped the Nuggets conquer their quest to win a title three years later. This past season in Denver the 6-5 shooting guard averaged 10.1 points while shooting 40.6% from 3-point range to go with 2.4 rebounds, 2.4 assists and 1.3 steals.
The third year of Caldwell-Pope’s deal with the Magic includes a player option, The Athletic reported. USA TODAY first reported the agreement between the sides.
Although the deal was widely reported and agreed to on Sunday night, it won’t be official until the weekend when the Magic can announce the deal with Caldwell-Pope.
That’s because teams can’t begin signing free agents to contracts until Saturday at 12:01 p.m. ET.
The move to sign Caldwell-Pope leaves the Magic with roughly $28 million left in cap space.
It also indicates that Orlando could be out of the running for 6-time All-NBA forward Paul George, who was planning on meeting with the Clippers, 76ers and Magic once free agency opened, according to multiple reports.
George will be eligible to sign a four-year, $212 million contract ($53 million per year) with teams that have the cap space but, barring further roster moves, the Magic no longer have that room following the agreement with Caldwell-Pope.
George informed the Clippers on Sunday that he has decided to sign with another team in free agency. The 76ers are considered the leading suitors according to multiple reports.
Still, the addition of Caldwell-Pope for the Magic shouldn’t be overlooked in any form.
He provides championship experience to a young roster that overwhelmingly just went through its first trip to the playoffs when the Magic fell to Cavaliers in 7 games during the East’s first round.
The 11-year vet is as reliable as players come in the NBA. Since the 2013-14 season, Caldwell-Pope has played in 96% of regular season games while shooting above 40% from beyond the arc in three of the last four years.
He’s made at least 120 3-pointers in each of the last four seasons. The Magic only had one player make more than 120 3s this year (Jalen Suggs, 153). Caldwell-Pope was one of three to do so for Denver (Michael Porter Jr. and Jamal Murray).
And Orlando needs improvement from 3-point range after the team shot 35.2% from 3 this season. Although the Magic’s long-range percentage improved from a year ago (up from 34.6%), they were still 24th out of 30 for a second consecutive season.
Caldwell-Pope also fits the mold for a defensive wing who can defend at a high level on the perimeter that the Magic seek to put alongside second-team All-Defensive guard Jalen Suggs.
During the regular season, opponents shot 40.6% when Caldwell-Pope was the closest defender, which led the NBA, according to Second Spectrum. He earned 11 All-Defensive second-team votes this season.
He declined his $15.4 million player option for the 2024-25 season Thursday to become an unrestricted free agent.
With NBA free agency open, it appears the Magic are well on their way to improve their roster after winning 47 games to finish fifth in the East.
Jason Beede can be reached at [email protected]
