Orlando Magic waive Hedo Turkoglu

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UPDATE 6:09 pm: And it’s official, the Orlando Magic have waived Hedo Turkoglu.

No team is going to claim him off waivers and pick up the $6 million he is owed. It is possible he gets a minimum deal, more likely he gets a 10 day contract soon.

4:04 pm: So much for trying to find a trade partner.

Hedo Turkoglu has basically the same contract as Andrew Bynum — he was due $12 million this season but if he is waived by Jan. 7 he was only owed $6 million of that. As Cleveland had done with Bynum, Orlando kept Turkoglu around as a potential trade chip.

They have thrown in the towel on that reports John Denton at the Orlando Magic’s official Web site.

Turkoglu likely could get a healthy contract for a powerhouse team back in his native Turkey, but that’s not the plan according to those on the ground in Turkey.

Turkoglu was a valuable stretch four, one who could handle the ball (him on the pick-and-roll was key to Orlando’s 2009 NBA Finals run). However, in recent years his shot hasn’t fallen and his entire game has shown age — he hasn’t played in a year and shot just 29 percent in the handful of games he got in.

It is possible a team gives him a 10-day contract when those open up. That said I wouldn’t expect him to be a meaningful part of any NBA team right now.