Magic waive veteran guard Ronnie Price

Published Jul. 2, 2014 5:37 p.m. ET

foxsports

In the latest makeover of the Orlando Magic involving the guard position, the team announced Wednesday afternoon it has waived Ronnie Price.

Price, who turned 31 last month, and forward Jason Maxiell were the two veterans signed by the Magic last summer largely for the purpose of providing guidance to one of the NBA's least experienced rosters. Price played in only 31 games with two starts, one of which came when both Jameer Nelson and Victor Oladipo were out, and averaged a team-low 12.2 minutes per contest.

Since the second year of his contract was not guaranteed, the Magic saved the veterans minimum-salary portion of his contract (approximately $1.3 million) by waiving him.

Maxiell, who is scheduled to make $2.5 million in the 2014-15 season, could become the next player they release as a cost-saving measure. In less than a week, the Magic have waived Price, Nelson and Doron Lamb and traded Arron Afflalo, their leading scorer each of the past two seasons, to the Denver Nuggets. They also added Aaron Gordon, Elfrid Payton and Devyn Marble through the draft, acquired Evan Fournier in the trade for Afflalo, claimed Willie Green off waivers, and agreed to terms with Ben Gordon.

You can follow Ken Hornack on Twitter @HornackFSFla or email him at khornack32176@gmail.com.