Found August 11, 2013 on Orlando Magic Daily:
August 10 marked the one-year anniversary of the Dwight Howard trade and the official beginning of this current rebuild project. The old Magic team was swept out fairly quickly and a new Magic team was preparing to dawn. One tool that figured to help the Magic out in this rebuilding effort would have been the very large traded player exception that Rob Hennigan created in the deal. In fact, it is the largest traded player exception that has been created in NBA history, at around $17 million. The one catch is that, like all traded player exceptions, it expires one year after the date it is created. The Magic failed to use this asset and allowed it to expire once the clock turned to midnight Sunday morning. The decision to allow the traded player exception to expire does not affect the Magic's current cap situation or anyone currently on the roster. A traded player exception is created to allow teams that are above the salary cap to make trades. It allows the team ...
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