The Magic are declining Joe Ingles‘ team option for the 2024/25 season, Adrian Wojnarowski of ESPN reports (Twitter link). As a result of the move, the veteran wing will be an unrestricted free agent.
Ingles was set to make $11MM next season, but with his option declined, Orlando projects to have $44MM in cap space, which can increase to over $50MM if Moritz Wagner‘s team option is also declined, according to ESPN’s Bobby Marks (Twitter link). Marks also notes Jonathan Isaac is on a $17.4MM non-guaranteed contract.
While Ingles is hitting the open market, Wojnarowski reports the two sides are expected to continue dialogue through free agency next week.
The 36-year-old Ingles signed with the Magic last season after playing for the Bucks the year before. In 68 games with Orlando, Ingles averaged 4.4 points but shot 43.5% on his 2.4 three-point attempts per game.
Ingles began his career in 2014 with Utah, where he spent eight seasons. In total, he holds career averages of 8.1 points on a 41.0% clip from deep.