The Orlando Magic and forward Glen Davis mutually agreed to a contract buyout, the team announced Friday.

Financial terms were not released by the team.

Davis averaged 12.1 points and 6.3 rebounds in 30.1 minutes over 45 games (43 starts) with the Magic this season.

"As we continue to chart what we believe is the best course of action for our organization, maximizing the development of our young players remains of critical importance," general manager Rob Hennigan said in a statement. "This agreement allows us an opportunity to do just that. We were able to reach a buyout agreement with Glen that was mutually beneficial, and we certainly wish Glen all the best as he continues his playing career. We thank him for his service and contributions to the organization and the Central Florida community."

Davis, originally selected in the second round of the 2007 draft by the Seattle Sonics, has averaged 8.9 points and 4.8 rebounds in 23.1 minutes over 417 regular-season NBA games with the Boston Celtics and Magic.