Orlando Magic and Franz Wagner reach 5 year, $224 million extension of rookie contract

ORLANDO, FL – The Orlando Magic have reached a $224 million extension with Franz Wagner for his rookie contract, per ESPN’s Adrian Wojnarowski, keeping him with the Magic for several more years. The extension is the maximum rookie extension. This move is part of the team’s efforts to continue with their successful 2023-24 season roster.

Orlando, Florida, USA, December 5, 2022, Orlando Magic small Forward Franz Wagner #22 rushes forward with the ball in the first half at the Amway Center. (Photo Credit: Marty Jean-Louis)

Wagner averaged 19.7 points per game last season, second only to teammate Paolo Banchero, and also contributed 5.3 rebounds and 3.7 assists per game.

Wagner has been a key piece of Orlando’s offense since being drafted eighth overall in the 2021 NBA Draft, making the starting roster immediately.

Wagner has been one of the most consistent players on the roster, missing only 15 games total in his Magic career and racking up over 7,000 points.

Wagner has the possibility of increasing his earnings to as much as $269 million. Per Wojnarowski, Wagner is eligible to earn 30 percent of Orlando’s salary cap if he’s voted to the All-NBA team.

Wagner will continue to play alongside his brother Moritz Wagner, who has also been re-signed by the Magic this offseason.

Orlando agreed to a 2-year, $22 million contract with Mo Wagner to return to Orlando, where he’s spent the last three full seasons.

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