Orlando Magic's Franz Wagner Agrees To A Monumental $224 Million Extension
The Orlando Magic have secured one of their promising young talents by reportedly agreeing to a five-year, $224 million extension with forward Franz Wagner. ESPN reports that Wagner's new contract, starting in the 2025-26 season and running through 2029-30, could be worth up to $269 million if he makes an All-NBA team.
Wagner, selected eighth overall in the 2021 draft, has been a key player in the Magic's lineup since his rookie year. The 22-year-old has averaged 17.8 points, 4.6 rebounds, 3.4 assists, and 0.96 steals while starting all 231 games of his career. Last season, he set career highs with 19.7 points, 5.3 rebounds, and 3.7 assists per game.
Wagner's rise and the performance of Paolo Banchero, the top pick in the 2022 draft, were crucial for the Magic's success last season. The team won 47 games in the 2023-24 season, their highest win total since 2010-11, and made it back to the play-offs after a three-year hiatus.
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.
— Adrian Wojnarowski (@wojespn) July 5, 2024
This extension is part of a busy free agent period for Orlando. The Magic also signed veteran guard Kentavious Caldwell-Pope from the Denver Nuggets on a three-year, $66 million deal and extended forward Jonathan Isaac's contract for five years at $84 million.
Wagner's new max contract follows closely after the Magic re-signed his older brother Moritz to a two-year deal worth $22 million. This makes Franz Wagner the first Magic player to receive a maximum extension on his rookie contract since Dwight Howard in 2007.
Banchero is expected to join this group when he becomes eligible next summer. The former University of Michigan star has quickly developed into a cornerstone two-way player for Orlando.
The Magic's recent moves reflect their commitment to building around their young core while adding experienced players to support their development.
The team's strategic signings aim to create a balanced roster capable of competing at higher levels in upcoming seasons.
Sign in with Google