Examining Magic's Salary Cap, Decisions for 2024 NBA Free Agency After Playoff Loss | News, Scores, Highlights, Stats, and Rumors

Orlando is poised to be one of the most interesting teams of the 2024 offseason. It has cap space and some notable needs—including those of a playmaking point guard, a high-end center and more shooting help.

Philadelphia 76ers guard Buddy Hield could wind up on Orlando's radar, as he's frequently been linked to teams in need of shooting help over the past few seasons. The Indiana Pacers finally traded Hield in February, and the 31-year-old will be a free agent this summer.

The Magic could also eye Klay Thompson, if the Golden State Warriors decide not to retain him in free agency. Thompson isn't the same player at 34 as he was early in his career—and injuries will remain a concern—but he can still provide valuable range shooting in the right role.

Sacramento Kings shooting guard Malik Monk is another solid shooter to consider, and the 26-year-old might fit better with Orlando's long-term vision.

Finding a high-end starting point guard or center will be more difficult. However, Orlando has the capital to make a strong offer or two, and some quality players will be available.

The list includes Los Angeles Clippers point guard James Harden, Los Angeles Lakers point guard D'Angelo Russell (player option), New Orleans Pelicans center Jonas Valanciunas and New York Knicks center Isaiah Hartenstein.

Orlando will likely intrigue players because of the presence of Banchero, Wagner and Suggs. The Magic's window only just opened, and there exists the potential to become a perennial contender.

Not every NBA team will be in a position to go star-chasing this offseason, but Orlando is. Expect the Magic to make a splash in the coming months.

*Cap and contract information via Spotrac.