Magic, Franz Wagner Agree to Five-Year, $224 Million Extension

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NBA executives vote Orlando Magic Franz Wagner as top breakout candidate for 2023-24 season Cade Cunningham

The Orlando Magic are not done making moves this offseason. After adding Kentavious Caldwell-Pope, the team has now locked up one of their bright stars for the future. The Magic have reportedly signed Franz Wagner to a five-year, $224 million rookie extension. It could be worth up to $270 million if he makes an All-NBA Team in the 2025 campaign. Given Wagner’s potential and the trajectory the Magic are on, one could argue the team was wise to sign one of their best talents to an extension now.

Orlando Magic Sign Franz Wagner to Five-Year Rookie Extension

Franz Wagner’s Potential

Franz Wagner is one of the better up-and-coming young players in the league. He has been overshadowed the last couple of years by Orlando’s best player, Paolo Banchero, who has a bright future himself. However, he is certainly the Magic’s second option and for good reason. Last year, Wagner averaged career-highs across a few statistical categories. He tallied 19.7 points, 1.1 steals, 5.3 total rebounds, and 3.7 assists per game while shooting 48.2 percent from the field.

Not to mention, he also authored an offensive rating of 116 to go along with a career-best defensive rating of 112. Wagner also had an assist percentage of 18.8 percent, a player efficiency rating of 17.6, and a usage rate of 25.7 percent. The ceiling is certainly high for Franz Wagner. Especially if he can eventually develop a reliable shot from three-point range and continue to evolve defensively. Considering all of this, he fits right into the Orlando Magic’s long-term plans.

Orlando’s Bright Future

The Magic were the surprise of last year finishing with the fifth seed in the Eastern Conference. Their scrappy defensive play and young talent took them further than many peers expected last season. Young talent such as Paolo Banchero, Jalen Suggs, and of course, Franz Wagner, is developing at an impressive rate. Not to mention, the addition of Kentavious Caldwell-Pope will alleviate some of their shooting woes. Plus, it will give them a voice in the locker room with championship experience.

Some peers also expect Banchero to eventually be a top-five player in the NBA. If this sentiment comes true, then the future of the Orlando Magic is more promising than ever. As long as Franz Wagner continues to develop at an efficient rate, then the contract extension will eventually be looked upon as one of the smarter decisions the organization has made. Especially with how many lucrative contracts have been given this offseason and will be given in the future.