NBA Rumors: Joe Ingles' $11M Contract Option Declined by Magic; Will Talk in 2024 FA

The Orlando Magic will decline Joe Ingles' $11 million option for the 2024-25 season, making him a free agent.

Per ESPN's Adrian Wojnarowski, the Magic and Ingles will continue to have dialogue about a reunion when he hits the open market.

Ingles inked a two-year, $22 million contract with the Magic last July. He averaged 4.4 points, 2.1 rebounds and 3.0 assists as Orlando made the playoffs for the first time since 2019-20.

The veteran guard is clearly well past his prime and averaged just 17.2 minutes per game last season, but he remained a steady hand when on the floor. He hit 43.5 percent of his threes last season, and long-range shots accounted for 161 of his 227 shot attempts overall.

"He's absolutely great for this group," Magic coach Jamahl Mosley told reporters of Ingles. "He keeps it real with these guys about the things that we're doing, the things that they're seeing, what he's seen throughout the league. And, all jokes aside, he is all about winning. And whatever that means, if he plays eight minutes or he plays 18 minutes, he's preached the same message to this group about what we need to do to become successful."

It's not out of the realm of possibility that Ingles returns to Orlando on a deal with a lower salary. He's been overwhelmingly positive about his experience with the organization, and his family targeted the Orlando area in part because the area has a school where they felt comfortable sending their son, Jacob, who is autistic.

Ingles turns 37 in August, so it would make sense for him to prioritize his family's long-term comfort over salary at this point. Perhaps the two sides could find a compromise where Ingles signs a two-year deal worth the same $11 million to help finish out his career.