Türkoğlu and the Magic agreed before training camp opened that he should stay away from the team, given that he no longer figured into its plans, while both parties worked on a buyout agreement. Orlando and Türkoğlu could not come to terms on such an agreement, and with no trade demand for the 34-year-old small forward, the Magic will simply place him on waivers.
Türkoğlu's cap figure for the 2013/14 season stands at $6 million, according to ShamSports' salary database. As Josh Robbins of the Orlando Sentinel reported in December, that figure would have ballooned to $12 million had Orlando not waived him before January 7th.
Waiving Türkoğlu gives Orlando 14 players under contract, freeing one roster spot that the team could use, if it wishes, to sign a free agent or to make an unbalanced trade.
In eight seasons with the Magic, Türkoğlu ranks sixth in games played, fourth in minutes played, sixth in points scored, fifth in total rebounds, and sixth in assists.