January 5, 2013; Orlando FL, USA; Orlando Magic small forward Hedo Turkoglu (15) drives to the basket against the New York Knicks during the second half at Amway Center. New York Knicks defeated the Orlando Magic 114-106. Mandatory Credit: Kim Klement-USA TODAY Sports

NBA rumors: Orlando Magic to waive F Hedo Turkoglu

The Orlando Magic tried and tried to trade forward Hedo Turkoglu. Their efforts were for not as the team announced they will waive the veteran on Friday afternoon:

Magic will waive Hedo Turkoglu today at 5

Turkoglu, who is due $12 million dollars this season has an option to buy out his contract at $6 million dollars if waived by a particular date. The Magic were hopeful they’d be able to attract a team who was looking for salary relief, but no teams appeared interested enough to part with anything of value, which the Magic were understandably seeking.

With Orlando waiving Turkoglu, the veteran will be placed on waivers, though he should have no trouble clearing as no team will be willing to pay him his elevated salary.

That will leave teams bidding for his services once he enters free agency.

As is the case for most aging players, he’ll look for an opportunity where he can be in position to be on a playoff team and likely scrounge up a few minutes of action per game.

Turkoglu has not played this season and only played 11 games during the 2012-13 season.

Tags: Hedo Turkoglu Orlando Magic