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Magic officially acquire Serge Ibaka from Oklahoma City

The Magic made the trade that was previously reported earlier in the draft.

Kim Klement-USA TODAY Sports

The Orlando Magic have officially acquired Serge Ibaka from the Oklahoma City Thunder in exchange for Victor Oladipo, Ersan Ilyasova and the draft rights to Domantas Sabonis, the 11th pick in tonight's NBA draft.

Ibaka, 26, spent seven successful seasons with the Thunder, including earning three consecutive All-Defensive First Team honors from 2011-2014. Ibaka also led the league in blocks for four straight years, and hasn't finished outside of the top-4 in blocks since coming into the league in 2010-11.

Moving on from Oladipo shows that the Magic weren't going to be willing to give him the massive contract extension he was likely going to get either this summer, or next summer. Add in his poor fit with point guard Elfrid Payton, who the team is all-in on, and moving on from Oladipo makes even more sense.

Giving up Ilyasova, as well as Sabonis is low risk for the team. Ilyasova was likely on his way out in free agency, and Sabonis was destined for a reserve role with Aaron Gordon and Nikola Vucevic holding down the starting front court spots.

In a statement released by the team, Magic general manager Rob Hennigan had this to say: "Serge (Ibaka) is a young veteran who brings tremendous athleticism and toughness to our frontcourt," said Hennigan. "His tireless work ethic and wealth of playoff experience will help enhance our culture and roster. We thank Victor (Oladipo) for all of his contributions both on the court and in the community.  We wish him and Ersan (Ilyasova) the best of luck in the future."