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Magic MATCH Bulls offer to Redick

BF91

By BF91,
in Charlotte Hornets

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BF91 Newbie

BF91

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chadfordinsider Breaking: Bulls sign J.J. Redick to a 3 year, $20M offer sheet according to sources. Link coming ...

With Redick and Korver, they've added a pair of sharpshooters to that team. Miami may have the biggest splash of the offseason, but you'd be hard-pressed to convince me that Chicago isn't having the best offseason.

***EDIT***

I think Orlando still has they chance to match the offer sheet, but I don't see how they would.

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pantherfan49 Newbie

pantherfan49

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I hope he ends up with the Bulls, Magic don't need him as much. I think he'd fit better with the Bulls. No coach can be worse than Stan Van Gundy anyway (Guy could not win a championship with Shaq and Wade...)

Can't agree. He needs the open shots created from the double teams on Howard and his man slacking off to help with the Nelson pick and roll.

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King Taharqa Newbie

King Taharqa

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Redick.jpg

ORLANDO, Fla. (AP)—The only place J.J. Redick is heading is to the bank.

In a move that highlights his remarkable NBA turnaround, the same Orlando Magic team that once benched Redick, shelled out $19 million Friday to retain the shooting guard. They matched a three-year offer sheet that the Chicago Bulls made for Redick last week that could cost Orlando much more.

The decision drives the Magic deeper into the luxury tax and gives them one of the NBA’s highest payrolls at about $93 million next season. The move keeps Orlando’s roster mostly intact as the Magic hope continuity will overcome Miami’s All-Star trio and Boston’s Big Three in the Eastern Conference.

“When it came down to it, when we’re talking about what we’re trying to do here, it came down for me to pedigree, DNA, things that most people don’t think about,” Orlando general manager Otis Smith said. “It was less about the money for me, being the basketball guy, and more about keeping a guy around that we’ve had in our organization for the past four years.”

The decision was ultimately made by ownership.

Because Redick was a restricted free agent, Orlando had seven days to match the contract. Billionaire owner Rich DeVos and team president Bob Vander Weide took all seven days to make the move that nearly doubles Redick’s salary from last season.

Teams have to pay a dollar for every dollar they are over the luxury tax, which the league set at $70.3 million for next season. The tax hit is based on the roster at the end of the season, meaning it’s likely the Magic could make trades before then to lessen the financial burden.

Orlando should find relief in a new downtown arena that opens this year and creates new revenue streams. Smith also believes a roster that remains one of the deepest in the league is attractive for potential moves and doesn’t mortgage the Magic’s future.

“The fact that we have players that other teams want makes you pretty flexible,” Smith said. “Is it possible to give out contracts and move a little bit less money? Sure. My thing is you don’t want to take a step back with talent.”

At the very least, keeping Redick assures that.

The former Duke standout was the 11th overall pick in the 2006 draft. He struggled early in his NBA career but has become a significant contributor for the Magic.

http://sports.yahoo.com/nba/news;_ylt=AlExhllAlyRkdvnfbBsqDyC8vLYF?slug=ap-magic-redick

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