One day after coming to a verbal agreement with free agent Rashard Lewis, the Orlando Magic withdrew their qualifying offer for restricted free agent Darko Milicic on Tuesday.
n effect, the move means the Magic have renounced their rights to Milicic and he becomes an unrestricted free agent.
Now, any team in the league can sign Milicic without fear of the Magic matching an offer. Only three teams, the Bobcats, Grizzlies and Bucks, have the cap room available to offer more than the mid-level exception. A fourth team, the Chicago Bulls, might be able to clear enough room if they were to renounce their rights to free agent Andres Nocioni.
If neither Charlotte or Memphis are interested, Milicic will likely have to sign a one- or two-year deal for the mid-level exception and re-enter the free-agent market next summer to look for a bigger deal.
Milicic was looking for a long-term deal averaging between $9 and $10 million a year, according to league sources.