Kentavious Caldwell-Pope signs three-year deal with Magic

Kentavious Caldwell-Pope signs three-year deal with Magic

The Orlando Magic have signed sharpshooting wing Kentavious Caldwell-Pope to a three-year deal, according to USA Today NBA reporter Jeff Zillgitt.

Kentavious Caldwell-Pope leaving the Denver Nuggets and headed to the Orlando Magic on a three-year deal, I’m told.

— Jeff Zillgitt (@JeffZillgitt) June 30, 2024

According to ESPN NBA insider Adrian Wojnarowski, the deal is worth $66 million, with multiple reports suggesting the final year being a player option.

Player option on third year for Kentavious Caldwell-Pope, I'm told. Think about this: Pistons renounced rights to KCP and what a turnaround. Key player on title team and Klutch Sports CEO Rich Paul and KCP have done $150 million in contracts over season years.

— Jeff Zillgitt (@JeffZillgitt) June 30, 2024

Third-year player option for Caldwell-Pope, sources said. https://t.co/H5UjmvSVB8

— Shams Charania (@ShamsCharania) June 30, 2024

According to Hoopshype’s cap guru Yossi Gozlan, the Magic still have nearly $30 million in available cap space. They still have decisions to make regarding Markelle Fultz, Gary Harris and Mo Wagner, who are all unrestricted free agents this offseason.

The Orlando Magic have about $28 million left in cap space after signing Kentavious Caldwell-Pope to three years, $66 million.

That's assuming Pope gets flat $22 million cap hits. The Magic typically structure deals like that or descending.

— Yossi Gozlan (@YossiGozlan) June 30, 2024

Caldwell-Pope, 31, recently declined a $15.4 million player option from the Denver Nuggets after helping lead them to an NBA Title in 2022-23. The two-time champion now becomes the highest-paid player on the Magic with a $21.0 million cap hit for the 2024-25 season, according to Spotrac. To Gozlan’s point above, if the contract is descending, it will be worth roughly $23.0 million in the first year.

It is the biggest contract of his career up to this point.

He averaged 10.1 points on 46.0 percent shooting, including 40.6 percent from 3-point range. He also hauled in 2.4 rebounds with 2.4 assists and 1.3 steals across 31.6 minutes per game. The Magic will be Caldwell-Pope’s fifth organization of his career, spending his previous 11 seasons with the Detroit Pistons, Los Angeles Lakers, Washington Wizards and Nuggets.

They were in desperate need of shooting after finishing No. 24 in 3-point percentage (35.2 percent) last year. There wasn’t much floor spacing surrounding Paolo Banchero and Franz Wagner, who was an inexplicable 28.1 percent from distance after knocking down 35.8 percent of his 3s over his first two seasons.

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This is a breaking news story. Stay tuned for updates.

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