The Orlando Magic capped a blockbuster day of wheeling and dealing by trading one franchise cornerstone for another, sending Rashard Lewis to the Washington Wizards for Gilbert Arenas on Saturday.

That trade followed news of a deal that shipped Vince Carter to the Phoenix Suns in a six-player swap that returns Hedo Turkoglu to the Magic.

"We needed a little bit more punch," Magic president Otis Smith said. "All those guys coming in have an ability to move the ball. After looking at our team through 25 games, we were missing a little something. I thought change was needed."

The Arenas-Lewis deal doesn't include other pieces. Smith said he's not concerned about Arenas' off-the-court troubles.

"We have a tendency not to forgive people in this country," Smith said. "We have a tendency to hold onto things a little bit longer, particularly if they play professional sports. And I always say that some times good people do stupid things, and that one's right on the top of the list. But I feel comfortable with who he is, knowing him since he was 19 years old."

All of the players involved in Saturday's trades are expected to report to their new teams within 48 hours. The Magic played Saturday night's game against the Philadelphia 76ers without Carter, Lewis, Gortat and Pietrus. Likewise, the Wizards didn't have Arenas against Miami.

The overhaul was a major move for a franchise that began the season believing it had all the pieces for its first championship.

Instead, Orlando had lost five of its last six games to drop from first to fourth in the Eastern Conference. The slide was magnified by winning streaks of 11 by Miami and 12 by Boston, a ripple effect that was enough to force Orlando to revamp the roster again with a player looking for a second chance of his own.

"I'm just glad to be back in the playoff hunt," Arenas said. "I've been out of it for a while and just glad to be back in competitive basketball with a group of guys who now hope to win, so it's just great."

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