Magic add another wing defender in two-time NBA champion

Orlando returned to the playoffs last season for the first time in four years, dropping its opening-round series to the Cavaliers in seven games. The Magic have set themselves up with a lot of cap space this summer thanks to a plethora of cheap young stars combined with the expiring contracts of Markelle Fultz, Joe Ingles and Gary Harris.

Harris is the former Nuggets three-and-D wing who came over from Denver in a trade for Aaron Gordon. Orlando has now exchanged his expiring $13M contract for Kentavious Caldwell-Pope, the Nuggets starting guard, on a three-year, $66M deal.

It's an excellent addition for the Magic, who had an obvious need for an upgrade at the wing. They especially needed an upgrade in their three-point shooting as they made the second-fewest threes in the NBA last season. Caldwell-Pope's tenacious defense fits Orlando's team identity, but his outside shooting is unique among his new teammates. His 40.6 percent shooting from deep and his 125 threes would have ranked second on last year's Magic team.

Ingles and Harris are free agents, though either or both might return on smaller deals. But it does mean that Orlando is almost certainly out of the Paul George sweepstakes, which is encouraging news for the other cap-space teams pursuing the veteran All-Star.

Denver's loss is Orlando's gain, but the ultimate winner of the Caldwell-Pope signing might be another Eastern Conference Paul George contender: the Philadelphia 76ers.