The contract, believed to be for Orlando's full mid-level exception, cannot be signed until July 14, at which point the San Antonio Spurs will have 15 days to match the Magic's offer.
"He's one of the few skill players available at that position," a Magic source told ESPN's David Aldridge about Turkoglu. "We're planning on pushing the ball and running a lot and that's the type of system he flourished in in San Antonio."
In 80 games with San Antonio this past season, the 6-foot-10, 235-pound swing man from Turkey averaged 9.2 points and 4.5 rebounds. Overall, in three seasons with Sacramento and one in San Antonio, he has averaged 7.9 ppg and 3.8 rpg in 301 games.