The Orlando Magic are in talks with Hedo Turkoglu to buy out the remainder of his contract, according to Adrian Wojnarowski of Yahoo! Sports.
Turkoglu, 34, is due another year at $12 million -- $6 million guaranteed -- on his Magic contract. The team is believed to be attempting to negotiate Turkoglu's buyout below $6 million.
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With the Magic working to construct the franchise around a rapidly improving young core, team officials and Turkoglu are eager to part ways.
No buyout deal is imminent, but the sides have been moving closer on possible terms, sources said.