According to a report from Adrian Wojnarowski of Yahoo Sports, the Orlando Magic have reached an agreement on a contract buyout with forward Glen Davis. The move will be official on Friday morning.

Davis' name had been involved in multiple trade rumors prior to Thursday's trade deadline, but was still a member of the Magic when the 3:00 pm ET deadline came and went.

Davis is being paid $6.4 million this season and is owed $6.6 million next season. He averaged 12.1 points and 6.3 rebounds for the Magic this season.