The Orlando Magic are looking at a huge luxury tax payment and they might waive disgruntled guard Doug Christie's $8.2 million salary to save millions of dollars in payments.

"According to Scott Herring, the Magic's director of basketball administration, Orlando's payroll is estimated at around $72 million, well over the projected luxury-tax threshold of about $54 million."

For every dollar the Magic are over the thresold, they must pay a dollar-for-dollar penalty would be about $18 milllion.

However, if they waive Christie, the Magic would only have to make $8 million in payments rather than the $18 million.

Christie's expiring contract was considered a valuable asset this offseason but with no revenue from a new arena pouring in, this could very well happen.

"It's certainly an option," Herring said. "We'd look at it."