The Orlando Magic officially waived Hedo Türkoğlu on Friday, the team announced via a press release. General manager Rob Hennigan offered no further comment. Word of Orlando's plans leaked earlier Friday.
By placing Türkoğlu on waivers, the Magic are only obligated to pay $6 million of his $12 million salary; had the team not waived him by January 7th, the balance of his salary would have become guaranteed.
Türkoğlu spent eight seasons across two stints with the Magic. He signed with the team as a free agent prior to the 2004/05 season and remained with it until the 2009 offseason, at which point he joined the Toronto Raptors in a sign-and-trade deal. In the interim, he captured the NBA's Most Improved Player honors for the 2007/08 season and helped lead Orlando to its second NBA Finals appearance in 2009.
The Magic reacquired Türkoğlu from the Phoenix Suns in December 2010, beginning his second stint with the franchise. A broken hand, conditioning issues, and ultimately an NBA-imposed suspension for use of a banned substance badly derailed his 2012/13 season, ultimately his last with the Magic. Orlando determined the versatile, 6-foot-10 forward was no longer in its plans and invited him to leave the team for the 2013/14 season, the last of his contract.
Though his tenure with the team ended on a sour note, Türkoğlu, is inarguably one of the most important--and, at his peak, beloved--players in Magic history.
Orlando now has one roster spot free to facilitate future transactions.