The Orlando Magic and guard Cole Anthony agreed to a three-year, $39-million contract extension, his agents told ESPN's Adrian Wojnarowski.

Anthony was set to become a restricted free agent at the end of the season. The 23-year-old's new deal is expected to run through the 2026-27 campaign.

The North Carolina alum has shown steady improvement since being drafted 15th overall in 2020. The 6-foot-2, 185-pounder averaged 13 points, 4.8 rebounds, and 3.9 assists off the bench in 60 games for Orlando last season.

By getting a deal done ahead of Monday's evening rookie extension deadline, the Magic secured a piece of their young core that also features Paolo Banchero and Franz Wagner.