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Magic waive Jameer Nelson

Updated: June 30, 2014, 7:14 PM ET
Associated Press

ORLANDO, Fla. -- The Orlando Magic's final link to their old regime is now gone.

The Magic waived Jameer Nelson on Monday, parting ways with their longest-tenured player in a move to save valuable salary cap space and turn a page toward the future. Nelson's departure comes just weeks before the team would have owed him $8 million for the final year of a three-year contract.

But by waiving him by July 16, Orlando owes the veteran point guard only $2 million in guaranteed money.

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