In a significant move, the Orlando Magic have secured their rising star, Franz Wagner, by agreeing to a five-year contract extension worth approximately $224 million, according to reports from ESPN and The Athletic. The deal, which follows a similar structure to that of Scottie Barnes with the Toronto Raptors, could potentially be worth up to $269 million if Wagner earns an All-NBA team selection in the 2024-2025 season.

Wagner, a 6-foot-10 versatile wing player, has emerged as one of the cornerstones of the franchise alongside Paolo Banchero. Averaging an impressive 19.7 points, 5.3 rebounds, and 3.7 assists per game in the previous season, Wagner's skills and ability to defend multiple positions have made him a highly sought-after player in the league.

While Wagner's 3-point shooting percentage dropped from 36.1% in his second season to 28.1% in the 2023-2024 season, the Magic organization remains optimistic that his shooting will bounce back. The $51 million salary in 2029-2030, if Wagner does not earn an All-NBA selection, may appear sizeable, but with the anticipated increase in the league's salary cap over the next few years, it is expected to become a smaller proportion of the cap.

At the age of 23, Wagner still has ample room for growth and development, which is why Orlando is making a long-term investment in his potential. The team has witnessed firsthand his progression and believes in his ability to continue improving on the court.

Interestingly, Wagner's brother and teammate, Moe Wagner, has also opted to re-sign with the Magic on a two-year, $22 million deal, further solidifying the family connection within the organization. Moe expressed his confidence in his younger brother's abilities, referring to him as an "NBA Max player" in an Instagram post, indicating the high regard in which both siblings hold Franz.

The contract extension for Franz Wagner showcases the Magic's commitment to building a competitive team for the future. With the anticipation of an increased salary cap and Wagner's demonstrated potential, Orlando aims to make strides in the challenging NBA landscape.

As the league awaits the start of the new season, teams and fans alike will keep a close eye on Wagner's continued development and progression, eager to see if he can reach the heights expected of a player with his skills and potential.

In conclusion, Franz Wagner's contract extension with the Orlando Magic signifies the team's belief in his abilities and their determination to build a winning franchise. With this hefty deal in place, Wagner has the opportunity to prove his worth and establish himself as one of the league's elite players in the coming years.