You'd expect a team official to deny a trade rumor like the one involving Gilbert Arenas, so this may not be news to you. Nevertheless, it's worth noting that Wizards owner Ted Leonsis said earlier today that there is no truth to the report that the Magic and Wizards are discussing a deal to send Arenas to Orlando.
Leonsis wrote in an e-mail, "It isn't true. I wouldn't tell you if it was true but I am telling you that it is not true."
Leonsis went on to say that he "really likes and respects" Arenas and that Arenas is both one of the "leaders" of the team and the "best player" on the team. Lee also quotes a league source that says the two teams talked about an Arenas for Vince Carter swap over the summer, and while talks were "never totally dead," the Magic feel Arenas' contract is too big for them to take on right now.
Right now, Orlando feels like Gilbert's contract is a little too huge for them. It hasn't been completely ruled out. But it's a little too rich.
As usual, this does not mean trade discussions never took place. It's likely that the two sides are indeed engaging in an ongoing dialogue, but that's not the same thing as saying a trade is anywhere close to imminent.