By securing the long-term future of Franz Wagner in Orlando, the Magic are entering a new stage of its multi-year plan.
The team already has gone through the losing.
It’s drafted its core players, too.
Now the franchise has indicated it wants to invest in and keep its young talent intact as Jamahl Mosley‘s squad continues to develop into an NBA postseason contender.
Wagner on Friday agreed to a 5-year, $224 million maximum rookie extension with the Magic, multiple people with knowledge of the situation told the Sentinel.
The contract could be worth as much as $269 million, ESPN reported, as Wagner is eligible to earn 30% of the team’s salary cap should he get voted to an All-NBA team.
During Orlando’s exit interviews in May, Magic president of basketball operations Jeff Weltman described Wagner’s extension as a “huge component” of the franchise’s summer.
The 2021 No. 8 draft pick already had his third- and fourth-year team options picked up by Orlando, and he entered this summer eligible for a rookie-scale extension along with guard Jalen Suggs, who was selected three picks earlier.
Although the extension was agreed upon Friday, rookie-scale extensions can only be signed between 12:01 p.m. on the last day of the free agency moratorium period — Saturday — and through 6 p.m. on the day prior to the first day of the regular season (late October).
But there was no point in waiting any longer to secure Wagner’s future. He’s served as a foundational piece to a young Orlando team that won just 22 games his rookie year but has since continued to improve.
It made a jump to 34 wins before reaching this season’s playoffs as the No. 5 seed with 47 wins, the most for the franchise since 2011.
The German forward set career highs in scoring (19.7 points), rebounding (5.3), assists (3.7) and steals (1.1) despite playing the fewest regular-season games in his career (72). During his brief NBA career, Wagner has scored 20-plus points 85 times (33 this season) and 30-plus points 11 times (seven this season).
He became one of just six players 22 or younger in league history to compile 4,000-plus points, 1,000-plus rebounds and 700-plus assists during his first three pro seasons, joining LeBron James (Lakers), Luka Doncic (Mavs), Anthony Edwards (Timberwolves), Russell Westbrook (Clippers) and Chris Paul (Spurs).
Where Magic and rest of East stand with free agency slowing down
The next rookie extension for the Magic to nail down this summer is for Suggs, who earned NBA All-Defensive second-team honors while playing in the most games of his career in a single season (75). In a year, 2022 No. 1 pick Paolo Banchero will be eligible, too.
After drafting Colorado’s Tristan da Silva No. 18 in June’s draft, Orlando added two-time champion Kentavious Caldwell-Pope to the mix after the sides agreed to a 3-year, $66 million deal when free agency opened last Sunday.
The Magic also agreed to new deals this week with key reserve big man Moe Wagner, guard Gary Harris and center Goga Bitadze while renegotiating and extending forward Jonathan Isaac. In addition, it guaranteed the third year of shooter Caleb Houstan’s rookie contract and it’s expected to re-sign Trevelin Queen to a new two-way deal.
These deals, which can be signed and announced starting at 12:01 p.m. ET on Saturday, leave Orlando with one standard contract left open on its roster and two more two-way contracts to use with a projected $7 million in cap space.
The Magic could use their final standard roster spot to fill with a vet following the departure of Joe Ingles, use it as bait to lure better free agents to training camp or leave it open for trade flexibility.
The franchise on Friday also announced its Summer League roster, which is headlined by Orlando’s lottery picks from a year ago — Anthony Black and Jett Howard — and da Silva.
The trio will be joined by a mixture of experienced players and undrafted rookies aiming to make a name for themselves in Las Vegas. The group will be coached by Magic assistant Lionel Chalmers.
It’s on this squad, and other Summer League teams, where the Magic could find young players to fill their pair of open two-way spots. They could also attract players to join Orlando for October’s training camp, where the Magic could eventually convert an Exhibit 10 deal into a two-way contract.
Three players on the Summer League squad have at least four years of NBA experience, including 2019 No. 6 overall pick Jarrett Culver, a 6-6 guard-forward who most recently spent the season with the Rio Grande Valley Vipers in the G League.
The roster also includes three players who spent part of last season with Orlando’s G League affiliate in Osceola: Myron Gardner, Jaycee Hillsman and Tre Scott.
Led by Chalmers, the coaching staff will include assistants Ameer Bahhur, Tae Carter, Davonte Fitzgerald, Corey Hawkins and Sean O’Brien.
With Summer League around the corner, free agency slowing down and Wagner’s rookie extension agreed upon, the Magic are continuing to check off critical boxes this offseason for the promising future of the franchise.
Magic Summer League roster
No. | Name | Pos. | Height | Weight | Years Pro
- 0 | Anthony Black | G | 6-7 | 200 | 1
- 13 | Jett Howard | G-F | 6-8 | 215 | 1
- 23 | Tristan da Silva | F | 6-8 | 217 | R
- 40 | Xavier Moon | G | 6-2 | 165 | 3
- 41 | Théo Maledon | G | 6-4 | 175 | 4
- 51 | Jarrett Culver | G-F | 6-6 | 195 | 4
- 52 | Charlie Brown Jr. | G | 6-6 | 199 | 4
- 53 | Jared Rhoden | G | 6-6 | 210 | 2
- 55 | Ta’Lon Cooper | G | 6-4 200 | R
- 57 | Myron Gardner | G | 6-6 | 220 | R
- 58 | Jaycee Hillsman | G-F | 6-6 | 215 | R
- 59 | Isaiah Todd | F | 6-10 | 220 | 2
- 60 | Kaiser Gates | F | 6-8 | 217 | 1
- 61 | Tre Scott | F | 6-8 | 225 | 1
- 62 | Charles Bediako | C | 7-0 | 220 | R
- 63 | Bryson Williams | F 6-8 | 240 | R
- 71 | Jay Huff | C | 7-1 | 240 | 3
- 72 | Ed Croswell | F | 6-8 | 240 | R
Magic Summer League schedule
- July 12 vs. Cavs, 4 p.m. (NBA TV), Cox Pavilion
- July 14 vs. Pelicans, 7:30 (NBA TV), Cox Pavilion
- July 17 vs. Grizzlies, 7 (ESPN+), Thomas & Mack
- July 18 vs. Nets, 8 (NBA TV), Cox Pavilion
*Fifth game TBD
Jason Beede can be reached at jbeede@orlandosentinel.com
