Franz Wagner Signs Five-Year, $224M Extension With Magic

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Franz Wagner.

Orlando Magic forward Franz Wagner has agreed to terms on a rookie max contract extension, ESPN’s Adrian Wojnarowski reported on Friday. View Franz Wagner’s contract details below.

Franz Wagner Signs Extension With Magic

Wagner, 22, is set to sign a five-year, $224 million rookie contract extension.

The contract could increase to as much as $269 million. Wagner can earn 30% of the team’s salary cap if voted to an All-NBA team.

Drafted No. 8 by the Magic in 2021, Wagner has quickly become one of the Magic’s cornerstone players. At 6’10”, Wagner has become a versatile wing for Orlando, becoming one of their best offensive creators and defensive stoppers.

Wagner had his best season as a pro in 2023-2024, registering career highs in (19.7 ppg) , rebounds (5.3 rpg) and assists (3.7 apg).

Wagner was a key reason the Magic went 47-35, earning the No. 5 seed in the Eastern Conference Playoffs. The Magic lost to the Cleveland Cavaliers in the opening round of the playoffs.

Per ESPN Stats & Information, Wagner is the fourth player in Magic history with at least 4,000 points before his 23rd birthday. Wagner joined a list that includes Shaquille O’Neal, Dwight Howard, and Tracy McGrady.

Orlando Magic Offseason

It’s been a busy week for the Orlando Magic.

The Magic re-signed center Jonathan Isaac to a five-year, $84 million contract, and Mo Wagner, Franz’s brother, to a two-year, $22 million deal.

Gary Harris also signed a two-year, $14 million deal to return to the Magic.

Orlando’s biggest acquisition was signing guard Kentavious Caldwell-Pope to a three-year, $66 million deal.

With Wagner and Paolo Banchero, the future is bright in Orlando.