Terrence Ross' career with the Orlando Magic is officially coming to an end, as the franchise is “finalizing” a buyout of his contract, sources told Adrian Wojnarowski of ESPN. The likes of the Dallas Mavs and the Phoenix Suns had reportedly expressed interest in Ross in the event of a contract buyout.

Terrence Ross, who had spent the last seven seasons with the Magic, will now be a free agent and free to sign with any team he pleases.

The Mavs, fresh off of landing Kyrie Irving in a blockbuster deal with the Brooklyn Nets, are looking to bolster their depth and bench with the potential addition of Ross.

Likewise for the Suns, who shipped out two key role wing players in Mikal Bridges and Cam Johnson in the trade for Kevin Durant.

Both teams clearly need to restock the cupboard when it comes to their talent out on the wing.

Ross, a 12-year NBA veteran with career averages of 11.0 points, 2.8 rebounds and 1.3 assists per game on 36.2 percent shooting from beyond the arc, fits the bill as a cheap, post-deadline free agent pickup.

Terrence Ross was in the final year of a four-year, $54 million contract he signed with the Magic back in the summer of 2019.

The Magic, who made Ross a healthy scratch for each of the contests leading up to the trade deadline, seemed poised to deal him, though they chose to stand pat with him through Thursday's deadline.

Ultimately, the contract buyout made the most sense for the Magic.

Now, Terrence Ross seems likely to land on his feet with the Suns or the Mavs.