The Magic have waived C.J. Watson, the team confirmed today (Twitter link). Watson will become an unrestricted free agent later this week, assuming he clears waivers.
Per Basketball Insiders’ salary pages, Watson was set to earn $5MM in 2017/18, but only $1MM of that figure was guaranteed. The Magic would have been on the hook for the remaining $4MM if they’d kept the veteran point guard on their roster beyond today, but by cutting him, the team will only have to pay that $1MM — that amount could be stretched across three seasons, if the Magic so choose.
Watson, who has spent the last two seasons in Orlando, has seen his numbers drop off significantly since joining the franchise. In 95 total games with the Magic, the 33-year-old has recorded 4.5 PPG and 2.1 APG with a shooting line of .371/.301/.867. Prior to his time in Orlando, Watson was a .425/.383/.806 shooter for his career.
While Orlando didn’t announce the move until today, the writing was on the wall for Watson’s release when the team agreed to sign Shelvin Mack earlier in the free agent period.
The Magic currently have about $90.7MM in team salary on their books, which doesn’t account for cap holds and exceptions. If they’re operating as an under-the-cap team, the Magic would have about $8MM in space remaining.