Orlando Magic's Updated Salary Cap 1 Week After Start Of Free Agency

The free agency moratorium has official ended, which means that every move the Orlando Magic have made over the last several weeks can become official.

This summer hasn't been particularly active for Orlando after a disappointing end to their 45-win season. But what does their salary cap situation look like after just one week of free agency? Let's examine!

What moves have the Magic made this offseason?:

Here are the notable moves the Magic have made:

Waive Jonathan Isaac
Draft Izaiyah Nelson No. 51 overall (two-way)
Sign Nikola Vucevic to one-year minimum
Sign Jevon Carter to one-year minimum
Bring Isaac back to one-year minimum
Add Colin Castleton to a two-way contract

In contrast to last offseason, Orlando has not made a seismic shift to its core. All of their moves have essentially been around the fringes, but nothing to impact the team's core group headlined by Paolo Banchero, Franz Wagner, Desmond Bane and Jalen Suggs.

In totality, including the $6.5 million saved by waiving Isaac, the Magic have added less than $1 million to their cap sheet. Since they're on two-way deals, Castleton and Nelson won't count against the Magic's books.

Sep 26, 2016; Orlando, FL, USA; Orlando Magic center Nikola Vucevic (9) poses for a photo during media day at Amway Center. Mandatory Credit: Kim Klement-USA TODAY Sports | IMAGN IMAGES via Reuters Connect

What's next for Magic?:

With just one available roster spot, the Magic are $2.5 million below the second apron -- and would be less than $50K away if they used it on a veteran minimum. This includes $1.3 million in unlikely bonuses for Bane, but excludes the few cap holds left on their sheet.

Nevertheless, the margins are razor-thin. I wouldn't expect much more, either.

Orlando has essentially ruled out trading away Goga Bitadze, who is on an expiring $7.6 million contract this season. Barring a change of mind, they also aren't parting with Wagner, Banchero, Bane or Suggs.

They didn't do anything relevant to improve their shooting from last year. They lost Jett Howard after declining his third-year option. And their second-round draftee is anything but a shooter; Nelson made 13 threes in four years.

Once again, the Magic are not only banking on improved health, but Wagner, Banchero, Suggs and Black to continue to improve as shooters. They are also banking on growth from second-year guard Jase Richardson, who barely factored into last year's rotation after being the team's No. 25 overall draft choice.

Last year was one of the most disappointing Magic seasons in recent memory, given the preseason expectations. Perhaps it's a good thing they're flying under the radar. There's a world where they shock some in the East, provided that their aforementioned core remains healthy for ... 40 games?!

At the end of the day, that's a big if. Time will ultimately tell, even though this core looked quite promising in the limited sample they did play last year.

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