Magic, Suggs agree to 5-year extension worth average of $30 million annually, AP source says

Jalen Suggs has signed a five-year contract extension with Orlando Magic worth an aver of about $30 million per season, a person with kwledge of terms told Associated Press on Monday.

team anunced signing but did t disclose terms. ESPN first reported signing.

It is ar step Magic are making toward locking up ir young core on long-term deals. y signed Franz Wagner over summer to a five-year extension worth at least $224 million — biggest contract in team history for w. It will almost certainly be topped next summer when 2023 NBA rookie of year Paolo Banchero is extension eligible.

Suggs' extension, like Wagner's, kicks in with 2025-26 season. He is coming off a breakout year for Souast Division champions, averaging 12.6 points and shooting nearly 40% from 3-point range last season — on his way to earning a second-team All-Defense selection, finishing eighth in Most Improved Player balloting and tied for 10th in defensive player of year voting.

“I want to be here,” Suggs said as Magic opened training camp three weeks ago. “I don’t want to be anywhere else.”

Magic had until Monday evening to get rookie-scale extension with Suggs completed. Magic president of basketball operations Jeff Weltman had made clear on multiple occasions that getting a deal done with Suggs was a priority, saying “he's a big part of what we're doing. Everybody kws that.”

Orlando, which went to playoffs as a . 5 seed in Eastern Conference last season, opens this season Wednesday at Miami.