The Orlando Magic have found their new president of basketball operations. It has been reported that Toronto Raptors general manager Jeff Weltman has agreed to a deal with the team to fill the vacant post and call the shots for them on basketball-related concerns, per The Vertical's Adrian Wojnarowski.

Although the Magic have been intrigued with the prospect of adding Cleveland Cavaliers GM David Griffin or Kevin McHale to their fold, Weltman emerged as their top candidate after his impressive stint in Toronto, where he helped turn the team into a contender, as well as retain their key players over the past couple of years.

Weltman will also have the capability of hiring his own GM, and could start interviewing potential candidates for the post. However, Matt Lloyd, who is currently the interim GM, is believed to remain with the team and could hold the same capacity full-time.

With Weltman's hiring, the Magic organization are hoping he can also help turn their fortunes around and become a perennial playoff contender in the future. After another disappointing season, Orlando will have the opportunity to start fresh with a new President of Basketball Operations coupled with the sixth pick in next month's draft.