According to Kennedy, the two sides haven't reached an agreement yet but "want to get this done."
Thomas played a total of 32 games for the Los Angeles Lakers and Cleveland Cavaliers in 2017-18. He didn't make his regular-season debut until January due to a hip injury, and he underwent season-ending surgery on his hip in March.
A year after finishing fifth in the voting for Most Valuable Player, Thomas clearly wasn't the same player following his hip injury. Between his time with the Cavs and Lakers, he shot 37.3 percent from the field and 29.3 percent from beyond the arc.
The Magic would be a good fit for the 29-year-old, especially on a short contract.
Orlando hasn't replaced Elfrid Payton at point guard after trading him to the Phoenix Suns in the middle of the year. Starting D.J. Augustin at the point is a less-than-ideal plan.
The Magic can also afford to gamble on a player coming off a season-ending injury. They finished with the second-worst record in the Eastern Conference (25-57), and they're at least a few years away from playoff contention.
If Thomas still can't recapture his old form in 2018-19, it wouldn't change much for Orlando. But if he once again played like an All-Star, the Magic might have a nice trade asset ahead of the deadline.