The Magic were busy on Saturday. Very busy.

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 sent Vince Carter to the Phoenix Suns in a six-player swap that returns Hedo Turkoglu to the Magic.

The Magic also get Jason Richardson and Earl Clark from the Suns in exchange for Carter, Marcin Gortat, Mickael Pietrus, a 2011 first-round pick and cash considerations.

The Magic added Gilbert Arenas, Hedo Turkoglu, Jason Richardson and Earl Clark and lost Rashard Lewis, Vince Carter, Marcin Gortat, Mickael Pietrus and a 2011 first round pick.

Let’s take these deals one-by-one. First, Lewis for Arenas. The Magic had to be disappointed with the production they were getting from Lewis, who is averaging just 12.2 points per game this season, his lowest since his sophomore season. The truth is, Lewis’s production took a nosedive when Carter came to town. Now the Magic have Arenas instead, and Gilbert will have to embrace playing off-guard because Jameer Nelson is still slated to start at the point.

Not a bad deal for the Wizards who get a starter-quality ‘stretch four’ in Lewis, who should thrive spacing the floor for John Wall. Lewis’s contract is ridiculous, but it’s one year shorter than Arenas’s deal, which is just as ridiculous. The real upside is that it’s Wall’s team now and he doesn’t have to deal with Agent Zero stepping on his toes.

Now to the Suns’ deal. The Magic sent a starter-quality center (Gortat), Vince Carter’s expiring contract, Mickael Pietrus and a first round pick to Phoenix for Hedo Turkoglu, Jason Richardson and Earl Clark. J-Rich is the best player of this bunch, but his deal is expiring as well, so there’s little salary relief for either franchise.

The bottom line is that the Magic just traded away four of its rotation players, so it’s going to take some time to work Turkoglu, Richardson and Arenas into the fold. Unless they expect Richardson to play some small forward, one of the three guards (Richardson, Arenas or Nelson) is going to be short on minutes. And let’s not forget that the Magic want to work J.J. Redick in as well.