According to The Athletic’s Shams Charania, the Orlando Magic have signed small forward Franz Wagner to a five-year contract worth up to $270 million. With Wagner’s extension, he becomes the first player the Magic have signed to a rookie max contract extension since Dwight Howard.
BREAKING: Orlando Magic forward Franz Wagner has agreed on a five-year maximum rookie contract extension worth up to $270 million, league sources tell @TheAthletic @Stadium. Wagner, 22, has cemented himself as a cornerstone for the Magic. pic.twitter.com/aRcIjkWWI3
— Shams Charania (@ShamsCharania) July 5, 2024
The Magic drafted Wagner with the No. 8 pick in the 2021 NBA Draft. In his rookie year, the German native averaged 15.2 points, 4.5 rebounds, and 2.9 assists per game. Wagner also started all 79 games he appeared in and finished fifth in Rookie of the Year voting. In his three seasons with the Magic, he has become a cornerstone and key player next to forward Paolo Banchero.
News of Wagner’s extension comes just days after the team re-signed his brother, Moritz Wagner, to a two-year, $22 million contract.
Orlando Magic Sign Former Lottery Pick to Max Extension
Franz Wagner is Key to the Orlando Magic’s Success
Last season, the Magic ended the season with a 47-35 record and finished as the No. 5 seed in the Eastern Conference. This was their best record since going 52-20 during the 2010-11 season. Despite losing in seven games to the Cleveland Cavaliers in the first round, some would say it was a successful season for Orlando. The season before, they finished 34-48. And in 2021-22, the Magic finished with a 22-60 record, worst in the Eastern Conference.
Franz Wagner’s rookie max extension: 5 years, $224 million.
Dwight Howard’s rookie max extension: 5 years, $85 million.
It had been seventeen years since the Magic signed a player to a rookie maximum deal.#MagicTogether pic.twitter.com/HNldld9dMW
— ORLmuse (@ORLmuse) July 5, 2024
Although Banchero is the team’s star, Wagner’s emergence is also important to the team’s success. In Orlando’s Game 7 loss to Cleveland, Wagner ended the game with six points on 1-for-15 shooting. This includes his 0-for-5 mark from behind the three-point line. However, despite his poor performance, Banchero made it clear after the game that the team would not have made it as far as they did without Wagner.
“We’re not here without Franz. I’ve been in that position as well where you feel like you could have done a lot more in a losing effort but this doesn’t define him. It doesn’t define us.”
Wagner has improved each year in his three-year NBA career so far. And at just 22 years old, it is likely he will grow into at least an All-Star caliber player.
The Last Word on Franz Wagner and the Orlando Magic
After a solid year last season, it will be interesting to see how the Magic follow it up. The team recently lost Joe Ingles to the Minnesota Timberwolves. However, they added Denver Nuggets guard Kentavious Caldwell-Pope, who should help them on both sides of the court. Extending Wagner is a good move for the Magic. It may be an overpay from Orlando’s perspective. However, it will lock up one of their brightest stars who should only continue to improve through the 2029-30 season.
