NBA free agency 2014: Magic, Glen Davis reach buyout agreement

The Orlando Magic officially bought Glen Davis out of his contract Friday, the team announced. Word of Orlando's plans leaked Thursday night in the immediate aftermath of the NBA trade deadline, and a report later in the evening indicated several teams have already expressed an interest in the seventh-year big man.

Glen Davis' reported buyout is best for both sides

Tyler Lashbrook explains why both the veteran power forward and the team will be better off after parting.

"As we continue to chart what we believe is the best course of action for our organization, maximizing the development of our young players remains of critical importance," Magic general manager Rob Hennigan said in a statement. "This agreement allows us an opportunity to do just that."

The buyout reduces the Magic's salary commitment to him in the 2014/15 season, but the amount of that reduction is not yet clear: according to Josh Robbins of the Orlando Sentinel, John Hamilton, Davis' agent, "would not disclose the terms of the buyout."

Had the Magic kept Davis, they would have owed him $6.6 million in 2014/15, according to ShamSports' salary database.

Orlando initially acquired Davis in a sign-and-trade deal with the Boston Celtics in 2011, inking him to a four-year contract. In 140 appearances across two-plus Magic seasons, Davis averaged 11.6 points and 6.1 rebounds per game on 47.8 percent True Shooting. After the Magic traded Dwight Howard, they thrust Davis into a lead offensive role, and that extra responsibility hindered his efficiency.

After cutting ties with Davis, Orlando has 12 players under contract, one man short of the league's minimum. Per NBA rules, it has two weeks to fill that spot.