Franz Wagner and Magic agree to 5-year extension, largest contract in club history, says AP source

Franz Wagner has agreed to the largest contract in Orlando Magic history, a five-year extension worth at least $224 million, a person familiar with the negotiations told the Associated Press on Friday.

The contract value could reach $270 million if it meets supermax eligibility, said the person, who spoke on condition of anonymity because the agreement cannot yet be disclosed.

The NBA moratorium on such offseason transfers will be lifted on Saturday.

Wagner has averaged 17.8 points in his three seasons with the Magic, averaging 15.2 points as a rookie before climbing to 18.6 and 19.7 points in his last two seasons.

The 22-year-old forward, who helped Germany win the World Cup last summer and is scheduled to play in the Olympic Games in Paris starting later this month, has teamed up with Paolo Banchero to give the Magic one of the best young frontcourts in the league.

Wagner, who played at Michigan, started all 231 games with the Magic, a team that just won the Southeast Division title and the franchise’s first playoff berth in four years. Orlando forced Cleveland to a seven-game series before losing in the first round.

Wagner’s contract extension begins with the 2025/26 season.

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NBA players: https://apnews.com/hub/NBA