Elfrid Payton and Magic fail to reach an extension before deadline

The Orlando Magic and point guard Elfrid Payton did not agree on an extension before the deadline to do so on Monday, per Josh Robbins of the Orlando Sentinel.

What It Means:

Payton and the Magic had until 6 pm ET to agree on an extension to the point guard's rookie deal. Without an agreement, Payton will now become a restricted free agent next offseason.

Our models project Payton for 14.8 points, 3.7 rebounds, 7.2 assists, and 1.3 steals per game this season.