The Orlando Magic are, at best, a rebuilding team held captive by poor talent with lucrative contracts and a superstar that is very aware of the situation he is in. Only 3 years removed from the NBA Finals and 2 years since debuting a new arena, this franchise was (is) in complete chaos following the 2011-12 NBA season. It is pointless to point the finger as to why (because you need several dozen of them in the direction of the front office), but the truth is that Orlando Magic need to tear it down and start over.

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The question is, how do we start over? Let's consider the following variables.

• CAP SPACE

Let's say the 2012-13 salary cap hovers around $60m. Going into next season our guaranteed contracts consists of Dwight Howard ($19.5m), Hedo Turkoglu ($11.8m), Glen Davis($6.4m), Jason Richardson (5.8m), Chris Duhon ($2.6m), Quentin Richardson ($2.6m), and Justin Harper ($750k). You may look at that list and think, "what an uninspiring group of players." Look closer and you will see that those 7 players account for $50.25m of roster space and we still have 8 more players to sign.

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We have until early July to exercise the contract on JJ Redick ($6.2m), Ryan Anderson is a restricted free agent ($3-7m), and Jameer Nelson is an unrestricted free agent ($8-11m).

• DEAD WEIGHT

Glen Davis and Jason Richardson have guaranteed contracts through 2015!!! We couldn't move those losers if we tried. Hedo Turkoglu is sitting pretty on $12m, however, he is likely in the last year of his contract and is potential trade bait. Same with Chris Duhon.

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• ASSETS

Let's assume all other players on the Magic are (and probably are) unmovable. What assets does the team posses to attempt to rebuilt other than free agency?

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Dwight Howard: Trading Howard could bring in an assortment of veterans, prospects, and draft picks. Also, it would help ease cap space that would allow us to be players in free agency.

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Ryan Anderson: He will be very attractive to teams in free agency. He is versatile because of his size and ability to shoot long range. He is also very young. The Magic may be weary of his inconsistency and small presence in the paint. I doubt the Magic would allow him to leave in free agency unless a team is willing to overpay his perceived value. I still would not be surprised to see the magic package Anderson with another player for a PG or wing position due to the logjam at PF.

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JJ Redick: Just a few years ago the magic matched the Bulls' offer on Redick to become a highly paid backup. Redick is a proven scorer and has upgraded his defense since being draft by the Magic. Expect the team to exercise their option on Redick and trade him later in the season. He could possibly net a lottery draft pick.

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Turkoglu's Contract: If the Magic can keep Howard, he will be dealt for overpaid veterans. If not, Turkoglu will allow the team to be free agent players next offseason.

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• OUTLOOK

It is refreshing to see the Magic's new GM clean house so swiftly. He is young, hungry, and has a proven track record with successful and sustainable franchises. His offseason moves of acquiring a competent front office speaks volumes to his priorities. Expect a Head Coach to be signed before major personnel moves are made. Be patient with this one because it may take many years to rebuild a championship run. Next time it will be done right and it will be sustainable for years to come.

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Salaries:

http://www.hoopsworld.com/orlando-magic-team-salary