Dwight Howard signs ETO waiver

Dwight Howard has signed a waiver of his early termination option. The signing of the waiver effectively means that Howard will remain under contract with the Orlando Magic through the 2012-13 season.

Howard's contract with Orlando had included a player option, worth $19.2 million for the 2012-13 season. That money now becomes guaranteed, as Howard no longer has the right to opt out of his contract.

In a press conference announcing the trade, Magic CEO Alex Martins said, "We are happy to announce that Dwight Howard has decided to wavie his early termination opion.

"I want to thank Dwight for his loyalty," Martins added.

Howard said, "I'm glad this is finally over with."

Then, overnight, RealGM.com reported that Howard did plan to sign the waiver after all.