The Orlando Magic have an impressive young core, and on Friday afternoon, the first member from that group cashed in with a major payday. According to Shams Charania of The Atletic and Adrian Wojnarowski of ESPN, Orlando agreed to a 5-year max extension with standout forward Franz Wagner that has to potential to pay him up to $270 million.
BREAKING: Orlando Magic forward Franz Wagner has agreed on a five-year maximum rookie contract extension worth up to $270 million, league sources tell @TheAthletic @Stadium. Wagner, 22, has cemented himself as a cornerstone for the Magic. pic.twitter.com/aRcIjkWWI3
— Shams Charania (@ShamsCharania) July 5, 2024
ESPN Sources: Orlando Magic forward Franz Wagner has agreed on a five-year, $224 million maximum rookie contract extension – a deal that could become worth as much as $269 million. pic.twitter.com/uWrTFV6hrm
— Adrian Wojnarowski (@wojespn) July 5, 2024
Wagner can see the value on his deal increase dramatically if he makes an All-NBA team, but if he does not, he’ll make $224 million over the life of the deal. It’s the same deal that Scottie Barnes signed with the Toronto Raptors earlier this offseason — Barnes was selected four picks ahead of Wagner in the 2021 NBA Draft.
While Wagner struggled to hit shots from behind the three-point line last season, the former Michigan standout has established himself as one of the league’s most exciting two-way wings, and played a major role in the team making it to the playoffs this past year for the first time since 2019-20. Wagner averaged 19.7 points, 5.3 rebounds, 3.7 assists, and 1.1 steals in 32.5 minutes per game for Orlando during the 2023-24 campaign.
Wagner was not the only cornerstone member of Orlando’s roster to get selected high in the 2021 NBA Draft, as standout guard Jalen Suggs was taken with the No. 5 overall pick. While we’ll have to wait and see if he has an extension coming, the Magic have kept themselves busy this summer, as the team brought in Kentavious Caldwell-Pope in free agency.
