The Orlando Magic seem likely to deal J.J. Redick before the trade deadline rather than lose him in free agency, with a few strong options to trade for him emerging.
It's been well known that this was likely to happen for a while. Orlando Pinstriped Post's breakdown of Redick's free agency plans made the situation a little bit clearer: he'll be looking for about $10 million per year on the free agency market, and although that's unlikely to happen, its clear he's out of the Magic's range. And as Adrian Wojnarowski of Yahoo! wrote, the team can't sign an extension with Redick now, so they'll have to either deal him now or wait for the summer.
The Magic seem primed to do the former, but other teams are wary -- with his free agency approaching, he could just be a "rent-a-player" if a team incapable of resigning him lands him. That lowers his trade value, but Redick -- having the best year of his career, and no longer just considered a pure shooter -- will still draw interest from teams pushing towards the playoffs.
The leader seemed to be the Bucks, but the Magic aren't interested in their primary chip, Luc Richard Mbah a Moute, and the Bucks likely won't give up a first-round pick, something the Magic seem insistent on getting in return.
Iman Shumpert is essentially a first-round pick -- he was one in 2011, and has tons of upside -- and there was talk of him being traded for Redick. Another option is the Memphis Grizzlies, who seemed to be off the trade market after dealing Rudy Gay, but could use extra pieces for their playoff push this year and are now rumored to be in the hunt for Redick.