Magic Sign Franz Wagner to 5-Year, $224 Million Rookie Extension

Franz Wagner at Michael Rubin's Fanatics NBPA Summer League Party in July 2023. Photo by AFF-USA/Shutterstock (14003463bm)

The Orlando Magic continued their busy offseason this week by locking talented forward Franz Wagner to a long-term contract. The organization confirmed the news on social media without disclosing details of the deal. 

ESPN’s Adrian Wojnarowski reports that Wagner inked a five-year rookie extension worth $224 million. The deal could end up being worth up to $269 million if Wagner makes the All-NBA.

The Magic are coming off a promising campaign that saw them finish fifth in the East and reach the playoffs for the first time since 2019–20. Although they were eliminated by the Cleveland Cavaliers in the first round, Orlando’s young team showed great potential and is poised for another leap next season.

Wagner, taken eighth overall in 2021, has been one of the major reasons for Magic’s improvement last season. He was one of the team’s best players, averaging 19.7 points per game while adding 5.3 rebounds and 3.7 assists per game. Additionally, he became only the fourth player in Magic’s franchise history to score 4,000 points before turning 23.

Earlier in the offseason, the Magic signed Wagner’s brother, Mo Wagner, Jonathan Isaac, Gary Harris, and Goga Bitadze to new contracts while adding veteran free agent Kentavious Caldwell-Pope on a three-year, $66 million deal.

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