Franz Wagner Signs Historic $224 Million Extension with Orlando Magic
The Orlando Magic Magic and Franz Wagner have agreed to a monumental contract extension, solidifying his future with the team. ESPN’s Adrian Wojnarowski reported that Wagner’s new deal spans five years and initially amounts to $224 million, with the potential to escalate to $269 million based on performance incentives.
Negotiated by agent Jason Glushon during the July 4th holiday, this extension came ahead of Wagner’s previous contract schedule, which included a $7 million club option for the 2024-25 season.
Wagner’s performance during his first playoff appearance was pivotal in securing this record-breaking contract. Throughout seven games in the postseason, he showcased his versatility, averaging 18.9 points, 6.9 rebounds, and 1.3 blocks per game. His contributions were crucial despite the Magic’s first-round exit against the Cleveland Cavaliers.
Since being drafted eighth overall in the 2021 NBA Draft, Wagner has been a consistent starter for the Magic, appearing in 231 regular-season games. In the 2023-24 season, he posted career-high averages of 19.7 points, 5.3 rebounds, 3.7 assists, and 1.1 steals per game, demonstrating growth across multiple facets of his game.
Alongside Paolo Banchero and Jalen Suggs, Wagner formed a core part of Orlando’s lineup, leading them back to the playoffs after a hiatus since 2020. His standout performances, including a 38-point game against the Detroit Pistons and a critical 34-point, 13-rebound effort in Game 4 of the playoffs, underscored his value to the team.
Wagner’s development extends beyond scoring, as he has evolved into a formidable perimeter defender and forged chemistry with teammates like Wendell Carter Jr.
With Wagner and Carter now locked into long-term contracts, Orlando has secured its frontcourt foundation for the foreseeable future, signaling their commitment to building around their emerging young talent.
