Sports
Sources: Magic, Wagner reach $224M extension
Magic forward Franz Wagner has agreed on a five-year, $224 million rookie contract extension -- a deal that could become worth as much as $269 million, sources told ESPN.
Orlando Magic forward Franz Wagner has received a five-year, $224 million rookie contract extension -- a deal that could become worth as much as $269 million, sources told ESPN on Friday.
The Magic announced Saturday that Wagner had signed an extension without disclosing terms.
Wagner is eligible to earn 30% of the team's salary cap should he get voted to an All-NBA team, sources said. Wagner's agent Jason Glushon completed work on the deal over the July 4 holiday, sources said.
Wagner has been a cornerstone of the Magic's revival, averaging 19.7 points, 5.3 rebounds and 3.7 assists per game last season as Orlando returned to the Eastern Conference playoffs and went 47-35, the franchise's best record since 2010-11.
He has had a historic start to his Magic career, joining Shaquille O'Neal, Dwight Howard and Tracy McGrady in scoring at least 4,000 points before his 23rd birthday, according to ESPN Stats & Information.
Wagner, the No. 8 pick in 2021 out of Michigan, had seven 30-point games last season and ranked in the top 10 of made layups and dunks, according to Second Spectrum.
Wagner, whose brother Moe agreed to a new two-year, $22 million deal with Orlando on Tuesday, is considered the best player to come out of Germany since Hall of Famer Dirk Nowitzki.
The Magic announced Saturday that Wagner had signed an extension without disclosing terms.
Wagner is eligible to earn 30% of the team's salary cap should he get voted to an All-NBA team, sources said. Wagner's agent Jason Glushon completed work on the deal over the July 4 holiday, sources said.
Wagner has been a cornerstone of the Magic's revival, averaging 19.7 points, 5.3 rebounds and 3.7 assists per game last season as Orlando returned to the Eastern Conference playoffs and went 47-35, the franchise's best record since 2010-11.
He has had a historic start to his Magic career, joining Shaquille O'Neal, Dwight Howard and Tracy McGrady in scoring at least 4,000 points before his 23rd birthday, according to ESPN Stats & Information.
Wagner, the No. 8 pick in 2021 out of Michigan, had seven 30-point games last season and ranked in the top 10 of made layups and dunks, according to Second Spectrum.
Wagner, whose brother Moe agreed to a new two-year, $22 million deal with Orlando on Tuesday, is considered the best player to come out of Germany since Hall of Famer Dirk Nowitzki.