Orlando, FL (SportsNetwork.com) - The Orlando Magic and forward Glen Davis have mutually agreed to a contract buyout, the team announced Friday.
Davis was under contract for $6.4 million this season and was due to earn $6.6 million next season.
"As we continue to chart what we believe is the best course of action for our organization, maximizing the development of our young players remains of critical importance. This agreement allows us an opportunity to do just that," Magic general manager Rob Hennigan said.
"We were able to reach a buyout agreement with Glen that was mutually beneficial, and we certainly wish Glen all the best as he continues his playing career. We thank him for his service and contributions to the organization and the Central Florida community."
The 28-year-old Davis averaged 12.1 points and 6.3 rebounds in 45 games (43 starts) this season with Orlando. He was limited to 34 games in 2012-13 due to injuries.
Davis was originally selected in the second round of the 2007 NBA Draft by Seattle and traded to Boston shortly after. He was acquired by Orlando, along with Von Wafer, in exchange for Brandon Bass on Dec. 12, 2011.
Davis has averaged 8.9 points and 4.8 rebounds in 417 career games with Boston and Orlando. He helped Boston capture the 2007-08 NBA Championship.