Magic's Franz Wagner: Agrees to massive extension

The Magic signed Wagner to a five-year, $224 million rookie contract extension Friday, Adrian Wojnarowski of ESPN reports.

Wagner's five-year contract extension could be worth up to $269 million if he earns an All-NBA selection. The 22-year-old forward is one of the best young players in the league, averaging 19.7 points, 5.3 rebounds, 3.7 assists and 1.1 steals in 32.5 minutes across 72 regular-season appearances in 2023-24. Wagner and Paolo Banchero have established themselves as Orlando's building blocks, as the Magic's 47-35 record from last season was the franchise's best since the 2010-11 campaign (52-30).