The Orlando Magic are giving wing Franz Wagner a five-year, $224-million maximum rookie extension, sources told ESPN's Adrian Wojnarowski on Friday.
Wagner joins Cade Cunningham and Scottie Barnes as players in the 2021 draft class to receive their maximum rookie amounts. The No. 8 pick is third in his class in win shares, behind Barnes and Cleveland Cavaliers big man Evan Mobley.
The 22-year-old German national has increased his scoring average in each of his three seasons with Orlando, and the team has improved its record each time.
Last season, Wagner averaged a career-high 19.7 points, 5.3 rebounds, and 3.7 assists per game for the surprise No. 5 seed, which finished 47-35. However, Wagner shot a career-low 28.1% from beyond the arc.
Wagner will spend his summer playing for the Germany at the 2024 Paris Olympics.
The Magic re-signed Wagner's older brother, Moe, to a 2-year, $22-million deal earlier in the week.
