The Orlando Magic are closing in on a deal to buy Hedo Turkoglu out of his contract with the franchise.

Turkish forward Turkoglu is reportedly ready to agree to make himself a free agent as the Magic look to rebuild their team around a number of younger players, according to the Orlando Sentinel.

The report suggests that the Orlando plan to give Romero Osby the opportunity to stake a claim for the 15th roster spot.

Turkoglu is entering the final year of his five-year £34m deal but is rumoured to be eager to joining Turkish team Fenerbahce.

The 34-year-old played just 11 games for the Magic last season.