Orlando Magic sign C.J. Watson, trade Kyle O'Quinn to New York Knicks

The NBA's moratorium on player movement ended Thursday, and the Orlando Magic wasted no time in making two key offseason deals official.

First, the team announced the signing of C.J. Watson, a 31-year-old backup point guard; on Instagram, Watson shared a photo of himself signing his new deal. Across eight NBA seasons with four different teams, the Tennessee product has averaged 7.8 points, two rebounds, and 2.5 assists per game on 42.5 percent shooting from the floor, including 38.3 percent on three-pointers.

Less than two hours later, Orlando executed a sign-and-trade deal with the New York Knicks, sending Kyle O`Quinn, a Queens native, back home. In return, the Magic received cash considerations and the right to swap second-round Draft picks in 2019.

A second-round choice in the 2012 NBA Draft, O'Quinn became a productive, hard-working, and well-liked member of the Magic in his three seasons with them. He owns career averages of 5.4 points and 4.4 rebounds.

The Magic have yet to announce any other transactions, but more will be forthcoming: they still need to complete the signing of Jason Smith and the re-signing of Tobias Harris.