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Magic Keep Spending With Van Gundy, Smith Extensions
Filed under: Magic, NBA Coaches
ORLANDO, Fla. — If the Orlando Magic don’t win an NBA title in the next couple of years, it won’t be because they were afraid of spending the money to make it happen.
The Magic extended the contracts Wednesday of both coach Stan Van Gundy and general manager Otis Smith through the 2012-13 season, including a $1 million bonus for each of them if the team wins a championship.
The Magic also will have a player payroll estimated at $90 million, second highest in the league, leaving them just below the two-time defending champion Los Angeles Lakers, and deep into the punitive luxury tax territory.
“We believe we are on the brink of being a championship team,” said team president Alex Martins, whose contract also was extended as part of his promotion from chief operating officer. “It’s just a matter now of taking the final step. This is part of that.”
