The Orlando Magic just made one of their most important signings in recent franchise history. According to The Athletic’s Shams Charania, the young forward has just agreed to terms on a five-year max rookie extension with the Magic for over $270 million.
“Orlando Magic forward Franz Wagner has agreed on a five-year maximum rookie contract extension worth up to $270 million,” wrote Shams. “Wagner, 22, has cemented himself as a cornerstone for the Magic. Magic executives and Wagner’s agent, Jason Glushon, have been negotiating this week on the new max deal. This takes Wagner through 2029-30 season in Orlando.”
Franz’s contract (worth $7 million) was set to expire at the end of the 2024-25 season but the Magic have decided to make a long-term commitment in order to keep their developing team intact. After signing Kentavious Caldwell-Pope from the Denver Nuggets, they can now rest easy knowing their second-best player is around for the long haul.
Wagner, 22, was drafted 8th overall in 2021 and has since become a core member of the rotation. After making the All-Rookie team at the end of his first year, Wagner developed his game to become one of the best young players in the league.
Through 72 games last season, he averaged 19.7 points, 5.3 rebounds, and 3.7 assists per game on 48% shooting. As the “sidekick” to Paolo Banchero, Franz played his role brilliantly and helped fuel prosperity for the organization.
As a relatively unaccomplished organization, the Magic have struggled to stay relevant in the East for most of their existence and besides superstars like Shaquille O’Neal, Penny Hardaway, and Dwight Howard, they’ve never been the site of the game’s top talents.
Fortunately, the Magic might be on to something with the Franz and Paolo duo. Together, they’ve made the Magic a formidable opponent in the East and are expected to improve from their 47-35 record from the 203-24 campaign.
While they struck out on the big names like Paul George and Klay Thompson, the Magic have always been a team that’s needed to build through the draft and they are on a good track so far with a roster that is mostly entirely self-made.
As the No. 2 guy, Franz will be a big piece to their future success but there are still some doubts about his game. He lost his three-point shot down the stretch of the season and even into the playoffs. His lack of shot-making really hurt the Magic against the Cavaliers and they lost their first-round series.
For his career, Wagner is only shooting 28% from beyond the arc and that will have to improve if the Magic want to get anywhere in the playoffs. With Paolo Banchero likely to take another leap next season the pressure will be on Franz to take a leap of his own and validate the commitment that the Magic just gave him. Internally, there is confidence that the best is yet to come but it’s hard for some to believe in a team that still has so much to prove.
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