Photo by Keith Allison

Update: FanNation reports that several general managers and agents in the NBA believe that the Portland Trail Blazers might offer the stiffest competition to sign Hedo Turkoglu. The Detroit Pistons, Toronto Raptors and Atlanta Hawks also have salary-cap room to put Turkoglu in play.

Hedo Turkoglu’s agent has revealed that the forward will opt out of his contract with the Magic.

Turkoglu will walk away from $7.3 million, and one source told Sports Illustrated that he is looking for around $10 million annually.

Allowing Turkoglu to leave via free agency would be a huge loss for the Magic, but they will likely have to surpass the luxury tax threshold to keep him.

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Related Rumors

• September 30, 2009 -- Bosh, Turkoglu Start Camp Slowly
• September 22, 2009 -- Raptors Plan to Rest Turkoglu
• July 9, 2009 -- Dallas Acquires Shawn Marion
• July 3, 2009 -- Turkoglu, Blazers: No Deal
• July 1, 2009 -- Blazers Inquire about Hedo Turkoglu