Updated

Orlando, FL (SportsNetwork.com) - The Orlando Magic waived Hedo Turkoglu Friday, four days before the veteran forward's $12 million salary for this season would have become fully guaranteed.

Turkoglu, a key contributor to Orlando's surprise run to the 2009 NBA Finals, did not appear in a game this season as the team attempted to move the 34- year-old or negotiate a buyout of his contract. He participated in only 11 games for the Magic in 2012-13, missing part of that campaign due to a suspension for testing positive for a performance-enhancing substance.

The Turkish native averaged just 2.9 points and 2.4 rebounds last season. During his first 13 years in the NBA, eight of which were spent with the Magic over two separate stints, Turkoglu averaged 11.9 points and 4.2 rebounds while shooting 38.1 percent from 3-point range.