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Are the Magic contenders now?

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Through the summer’s free agent frenzy, the Orlando Magic sat on the sidelines with a Zen-like calmness. They were confident the pieces were already in place to beat Boston this time around if they could just stay healthy. Same with the Heat.

A quarter of the way into the season that was clearly not the case. The Magic had a $94 million payroll that likely would have had them losing in the second round.

So Saturday the Magic tried to change their fortune with a dramatic roster shakeup. Gone are Vince Carter, Rashard Lewis, Marcin Gortat, and Mickael Pietrus. In are Gilbert Arenas, Hedo Turkoglu, Jason Richardson and a newfound hope.

Should there be hope? Are the Magic really better? Are they good enough to challenge the top two in the East?

Maybe, but they have taken on a lot of risk and a lot more long-term salary. They now have guys who will not shrink from the spotlight. They have given themselves a lot of versatility.

But all that is different than having enough talent — and talent that blends well — and those doubts remain.

What Orlando is going to do on offense will not change — pick-and-roll and spread the floor with shooters. One thing these trades do is give Stan Van Gundy more options: Jameer Nelson with Dwight Howard/Brandon Bass/Turkoglu/any of the 18,000 people in the Amway Center; Jason Richardson with Bass or Turkoglu; Turkoglu with Bass or Howard or Ryan Anderson. Arenas also can be a pick-and-roll ball handler and in Washington this season was just about as effective at that as he was in isolation. Which wasn’t great.

The theory is now Orlando can find the mismatch and attack it a variety of ways. It’s a nice theory, but to execute it means a couple of wild cards have to fill out the flush.

What I love about this move for the Magic is Jason Richardson — he is an underrated two guard. He is a big upgrade over Vince Carter — Richardson will stretch the floor as he shoots 10 percent better from three (a key part of the Orlando offense). Richardson is also a much better rebounder. Carter was supposed to be there to create more off the dribble, but at this point in their careers Richardson can do that about as well. And you’ll get a few thunderous dunks.

What would worry me if I were an Orlando fan is the depth in the middle — the drop off from Dwight Howard to Earl Clark is like falling off K2. Now you mix in Howard’s propensity for foul trouble and you could see some funky lineups as Stan Van Gundy tries to figure out what will work on any given night. Bass played some backup center in Dallas, he will do that again. Or, you might see the Magic make a trade for a backup center.

Well, one more quick little worry for Orlando — come the playoffs when they have to match up against a Paul Pierce or a LeBron James, Pietrus and his defense would have been handy to have around. Even if his offense had been off this season.

In the end there are two wild cards that will determine if the Magic are again contenders, if this trade works out for them.

One is Turkoglu. He may well come off the bench with Brandon Bass starting next to Howard, but Hedo is going to get his chance. Except, he had chances in Toronto and Phoenix the last two years and blew those.

Turkoglu had a nice playoff run in Orlando but he was not fantastic all season, a bit of a myth seems to have grown up around him that inflates his value. He had his best success with the Magic when Jameer Nelson was down and he could run the pick-and-roll with Rashard Lewis — except now Nelson is here and Lewis is gone now. Can he have the same success with Ryan Anderson and Howard? Can he even still run the pick-and-roll that well? In limited attempts in Phoenix this season he did not do well (generating 0.64 points per possession) and shot just 40 percent (and 0-7 fr0m three). That said — and despite the poor fit in Phoenix — he is shooting better on threes and long twos this season than he did in his last season in Orlando, and better than Lewis has for the Magic. If he can knock down those shots, if he can provide some shot creation like he did three years ago, then this works out. If he is the Hedo we saw in Toronto, the Magic have a big contract that will sit buried on their bench.

The other wild card is Arenas. He has been injured and just did not look comfortable in Washington, on John Wall’s team. Maybe the new surroundings, a new team with something to really play for, rejuvenates him. More Arenas will mean less Chris Duhon, and that is an upgrade for the Magic. But the question is can Arenas return to near what he was before the suspension — the Magic need that guy who can create on the wing. In theory Arenas should be able to do that better than Carter at this point in their careers, but will he?

The Magic used basically every good tradable asset on the roster — and some contracts we didn’t think tradable — to make this happen. They have huge cash outlays in a couple years for guys getting old. Otis Smith has gone all in. But a lot of things need to go right for Orlando for this to push them past Boston and Miami. A second round playoff exit is still very possible. Probably even likely.

Unless you believe in wild cards.