Franz Wagner signs 5-year, $224 million contract extension with Orlando Magic

Franz Wagner is staying in Orlando. The German forward signed a five-year, $224 million contract extension on Friday that will keep him with the Orlando Magic for the foreseeable future, according to ESPN’s Adrian Wojnarowski.

The deal, which represents a maximum extension for a rookie, could be worth as much as $269 million. According to Wojnarowski, Wagner is eligible to earn 30 percent of Orlando’s salary cap if he is named to the All-NBA team.

In 2023-24, Wagner averaged 19.7 points per game, second behind teammate Paolo Banchero, and also averaged 5.3 rebounds and 3.7 assists.

Wagner has also been one of the Magic’s most consistent players in terms of games played: in three seasons in Orlando, he has missed just 15 total games and has accumulated more than 7,000 minutes of playing time. Last season, he averaged 32 minutes per game.

Wagner was selected by the Magic with the eighth overall pick in the 2021 draft and quickly became a crucial starter for Orlando. He was named to the NBA All-Rookie First Team in 2022 after averaging 15.2 points and 31 minutes per game.

Wagner joined his brother, Moritz Wagner, on the Magic. The two are among 13 sets of brothers in the NBA, but are one of only three — along with Giannis and Thanasis Antetokounmpo and Brook and Robin Lopez, all of whom play for the Milwaukee Bucks — to play for the same team.

Last summer, both Wagners helped Germany win gold at the 2023 FIBA ​​World Cup, with Franz being named to the tournament’s second team for his efforts. Both are expected to play for Germany at the Paris Olympics this summer.