UPDATED: Iannazzone: Magic, Nets Close to Sign-and-Trade Deal for Keyon Dooling

by Evan Dunlap on Jul 20, 2008 2:37 PM EDT in News

Al Iannazzone reported yesterday that the Orlando Magic and New Jersey Nets are close to finalizing a sign-and-trade deal which would send Keyon Dooling to New Jersey once he signs a three-year contract in the $10-11 million range. Orlando would receive the $3.3 million trade exception the Nets received from Dallas as part of the Jason Kidd trade. New Jersey has long had interest in Dooling, but thought it lost its chances when it signed free-agents Jarvis Hayes and Eduardo Najera earlier this week.

The exception, valid for one year after it's received, would enable the Magic to absorb $3.3 million in extra salary in a future trade. There's no guarantee they'll ever use it, though. Still, it looks as though the Magic might not lose Keyon Dooling outright after all. Not a bad deal, if it goes through.

UPDATE: Fred Kerber of the New York Post reports the teams have finished the deal and are merely waiting for the league to approve it (HT: NetsDaily). Meanwhile, Ira Winderman wonders why Miami passed on Dooling twice after he helped the Heat reach the 2005 Eastern Conference Finals.

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It’s better then nothing, and it’ll definitely help us grab another point guard.

by magic fanatic on Jul 19, 2008 7:17 PM EDT reply actions

$3.3m and J.J would get us a $5.5m point guard…

by eltharion_doa on Jul 20, 2008 8:51 AM EDT reply actions

The deal is done, now lets see if Otis can turn this into something positive.

by magic fanatic on Jul 21, 2008 6:47 PM EDT reply actions

We'll have a year to see what he does with that trade exception.

Third Quarter Collapse: An Orlando Magic blog at SB Nation

by Evan Dunlap on Jul 21, 2008 6:54 PM EDT up reply actions

3.3 million exception is very small

Unless you’re getting a notoriously cheap talented player (and what team gives up those?), it’s going to be hard to get anything for that trade exception that wow’s you over. I’m a tad surprised New Jersey did it though.

No mistakes in the tango, darling. Not like life. It's simple. That's what makes the tango so great. If you make a mistake, and get tangled, you tango on

by pookeyguru on Jul 22, 2008 5:15 PM EDT up reply actions

They needed a backup and didn't have the money

Because they blew their mid-level on Najera and Hayes. They took advantage of the Magic’s having Dooling’s Bird Rights.

That exception will probably expire though. At least it’s there if we need it…

Third Quarter Collapse: An Orlando Magic blog at SB Nation

by Evan Dunlap on Jul 22, 2008 7:21 PM EDT up reply actions

I know how the trade was done

I’m very familiar with the CBA. (Too familiar as a matter of fact.) No, my actual surprise was that they wanted Dooling, but after seeing they traded Marcus Williams it made a bit of sense I suppose.

I guess my question is Ben, since you pointed this out in the post, is why would Otis Smith negotiate a s&t but not an actual contract for a position of need? Was it purely money?

No mistakes in the tango, darling. Not like life. It's simple. That's what makes the tango so great. If you make a mistake, and get tangled, you tango on

by pookeyguru on Jul 22, 2008 7:35 PM EDT up reply actions

Whoa, mybad

In hindsight, that was a condescending/needless explanation on my part. Sorry.

I imagine the move was money-based, yes. The Magic are trying to avoid the luxury tax. Dooling’s $3 million would have put them over, I guess. The whole thing is kind of a shame; Dooling shouldn’t have had to take a paycut after playing as well as he did last season.

At least they didn’t trade their franchise center for a second-round pick and a trade exception. Amirite, folks?

Third Quarter Collapse: An Orlando Magic blog at SB Nation

by Evan Dunlap on Jul 22, 2008 8:03 PM EDT up reply actions

No it's okay I didn't mean to be snappy about it either (I wasn't insulted)

As far as you knew I didn’t know how it happened. (I do because I’m a devout reader of Coon’s FAQ.)

As far as I can see Ben the Magic’s payroll is around 68 million. That’s close to 3 million under the tax. So if that’s the case, whats the big deal about giving Dooling that type of money? I don’t know I don’t get it. If Dooling was that valuable you say ah hell with the tax right?

I don’t really see how that 3 million exception will be of much value anyway. It’s only good for a year, and the Magic salaries increase next year with most of the same guys already on board. It’s hard to expect that the Magic will pay 3 million for a player they aren’t really after at this point.

Either way

No mistakes in the tango, darling. Not like life. It's simple. That's what makes the tango so great. If you make a mistake, and get tangled, you tango on

by pookeyguru on Jul 22, 2008 9:12 PM EDT up reply actions

Yeah it’s a shame, but the luxery tax can be pretty hefty. Personally, I would rather Anthony Johnson and Pietrus then Keyon Dooling. I’m pretty happy with Otis this offseason. He even managed to turn what seemed like nothing into something.

by magic fanatic on Jul 24, 2008 11:17 AM EDT up reply actions