Markelle Fultz agreed to a three-year, $50-million contract extension with the Orlando Magic, his representation told ESPN's Adrian Wojnarowski.
The third season of Fultz's extension contains a team option, The Athletic's Josh Robbins reports.
Fultz struggled to live up to expectations with the Philadelphia 76ers after they drafted him first overall in 2017. The Washington product dealt with thoracic outlet syndrome throughout his time in Philly, which contributed to him appearing in only 33 games across two seasons.
He was eventually traded to the Magic in February 2019. The 22-year-old showcased flashes of potential last season, playing in a career-high 72 contests and averaging 12.1 points, 5.1 assists, and 1.3 steals. His production peaked just prior to the NBA's hiatus in mid-March, as Fultz contributed 15.4 points and 6.4 assists in five games that month.
Fultz should begin the campaign as Orlando's starting point guard following D.J. Augustin's offseason departure to Milwaukee. Rookie floor general Cole Anthony could eventually threaten Fultz's playing time if fares well early in the season.
The Magic also locked up injured forward Jonathan Isaac on a four-year, $80-million extension Monday.
