Franz Wagner has agreed to a substantial five-year, $224 million contract extension with the Orlando Magic, securing his future with the team, according to a report from ESPN’s Adrian Wojnarowski.
This maximum rookie extension deal could potentially reach $269 million, with Wagner eligible for 30 percent of Orlando’s salary cap if he earns a spot on the All-NBA team.
ESPN Sources: Orlando Magic forward Franz Wagner has agreed on a five-year, $224 million maximum rookie contract extension – a deal that could become worth as much as $269 million. pic.twitter.com/uWrTFV6hrm
— Adrian Wojnarowski (@wojespn) July 5, 2024
During the previous season, Wagner averaged 19.7 points per game, ranking second on the team after Paolo Banchero. He also contributed 5.3 rebounds and 3.7 assists per game.
Known for his consistency, Wagner has played a significant role for the Magic, missing only 15 games over three seasons and accumulating over 7,000 minutes. In the last season, he averaged 32 minutes per game.
Selected by the Magic as the eighth overall pick in the 2021 draft, Wagner quickly established himself as a key starter. In 2022, he was named to the NBA All-Rookie First Team after averaging 15.2 points per game and playing 31 minutes per game.
Wagner is joined in Orlando by his brother, Mo Wagner, making them one of 13 sets of brothers in the NBA. They are one of only three pairs playing for the same team, along with Giannis and Thanasis Antetokounmpo and Brook and Robin Lopez of the Milwaukee Bucks.
Last year, the Wagner brothers helped lead Germany to a gold medal at the 2023 FIBA World Cup, with Franz earning All-Tournament Second Team honors. Both are expected to represent Germany at the upcoming Olympics in Paris.