ORLANDO, Fla. – Orlando Magic superstar Dwight Howard on Thursday signed a waiver that keeps him under contract with the team through next season.
"I want to thank Dwight for his loyalty," Magic CEO Alex Martins said. "The city of Orlando is a great city. We have the best basketball fans in all of the world, and this is a great place to compete for a championship."
Howard had the option of ending his five-year deal in July and entering the open market.
"I'm glad that this is finally over with," Howard said, later adding, "I've always believed that loyalty is before anything."
Howard, who is averaging 21.2 points and a career-best 15.2 rebounds this season, requested a trade in the preseason and maintained that stance all regular season until changing his mind this week and expressing a desire to remain in Orlando this season.
"I've been going back and forth ... until an hour ago," said Howard, adding that he was praying and fasting about the decision.
Martins and Magic GM Otis Smith joked that Howard made his final decision on the team plane traveling to Orlando after Wednesday night's game in San Antonio.
"He made up his mind somewhere over New Orleans," Smith said.
"It's not as easy as people think," Howard said. "It's very hard. You're talking about a career-changing event."
Howard was asked about his status with the team beyond next season.
"We'll cross that bridge when we get there," Howard said.
Local 6 Sports Director David Pingalore asked Howard directly why he won't sign a contract extension with the team right now.
Howard only said, "I want to win a championship."
"Our goal is to get Dwight to sign a long-term contract," Martins said.
By signing the waiver, Howard passed up the opportunity to sign a long-term contract this offseason. If he had opted out and re-signed with Orlando, Howard could have secured a max contract of $109 million over five years. If he signed elsewhere, he could have received $81 million over four years.
He is eligible to sign a two-year or three-year extension with the Magic, or he can collect his $19 million next season and then become a free agent, but Howard runs the risk of incurring an injury before signing another long-term deal.
In his opening statement, Martins said the team took a chance drafting Howard almost a decade ago.
"We took a risk eight years ago ... when experts said that (drafting Howard with the No. 1 overall draft pick) wasn't the right decision to make," Martins said. "We're in a position to win a championship."
Smith echoed those sentiments.
"Our objective is to win an NBA title. Our best chance to do that is with Dwight as a part of our franchise," Smith said.
"I want to give it a shot," Howard said, referring to winning a championship.
The Magic are 28-16 and seven games behind first-place Chicago.
Howard first told RealGM.com early Thursday that he would waive his early termination option and stay with the Magic through at least the 2012-13 season.Â
"I have gotten some bad advice," Howard told the website, referring to the hoopla that has surrounded his future. "I apologize for this circus I have caused to the fans of our city. They didn't deserve none of this. I'm sorry from the bottom of my heart. I will do whatever I can to make this right and do what I was put in Orlando to do."Â
The remarks came a day after Howard reportedly told the team that he would become a free agent at the end of the season.
Howard had been linked to trades with the New Jersey Nets and Los Angeles Lakers.
The Magic lost in San Antonio Wednesday night, and after the game, Howard was asked about his future.
"I don't know," Howard said after losing 122-111 to the San Antonio Spurs. "I'm going to go get on a plane with my teammates, and we're going to have a good time. And that's it. That's it."
SLIDESHOW: Dwight talks | RAW VIDEO: News conference
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