Nelson, 30, declined the player option in his previous contract which would have locked in a salary of about $8 million for the 2012/13 season, electing instead to test the free-agent market. But he and the Magic both made clear early in the process that they would like to remain together.
"We hope he is wearing an Orlando Magic uniform next season," Magic general manager Rob Hennigan said on June 27th. For his part, Nelson said, "I want to play in Orlando. I love the fans and I love the city."
Nelson, a team co-captain, averaged 11.6 points and 5.7 assists in 2011/12, his eighth professional season. His career averages stand at 12.4 points and five assists.
The Magic can't officially sign Nelson to a new contract until the league moratorium on transactions ends on July 11th. Nelson joins Chris Duhon as the Magic point guards under contract for 2012/13.