Updated

Orlando, FL (SportsNetwork.com) - The Orlando Magic signed No. 4 overall pick Aaron Gordon and guard Elfrid Payton, the 10th overall pick, on Wednesday.

Gordon started in all 38 games during his only season at the University of Arizona, averaging 12.4 points, 8.0 rebounds and 2.0 assists. He guided the Wildcats to a 33-5 record, a Pac-12 regular season championship and an Elite Eight appearance in the 2014 NCAA Tournament.

Payton was selected by Philadelphia before being acquired by Orlando in exchange for the draft rights to Dario Saric, a future first-round draft pick and a future second-round draft pick.

In 100 career games over three years at the University of Louisiana at Lafayette, Payton averaged 14.3 points, 5.1 rebounds and 4.9 assists. He is the school's all-time leader in steals with 197.

As a junior (2013-14), Payton played and started all 35 games while leading the Ragin' Cajuns to a 23-12 record and their first NCAA Tournament berth since 2005.

The Magic also waived guard Ronnie Price, who averaged 2.4 points in 31 games last season.