Magic waive Copeland day after claiming him off waivers

The Orlando Magic have waived forward Chris Copeland a day after plucking him off waivers, according to Shams Charania of The Vertical.

Charania reported Wednesday that the Magic were expected to waive Copeland after signing him. The curious move was made in the service of exploiting an apparent CBA loophole.

By temporarily taking on Copeland's $1.1-million contract, the Magic raised themselves above the salary floor - which they dipped below by shipping out Channing Frye and Tobias Harris - two of their three biggest contracts - ahead of the trade deadline.

Teams below the floor - which is set 10 percent lower than the salary cap - are are forced to pay up to the threshold by distributing the difference among the players on the roster at season's end. Claiming Copeland meant the Magic added his full $1.1 million salary to their cap, while only having to pay him a heavily prorated share.

In short, the move saves them a few bucks, though it's unlikely to sow any goodwill among the Magic players, who stood to gain (however minorly) from the team being below the floor.