Franz Wagner agrees to five-year, $224 million rookie max contract extension with Orlando Magic

Wagner, who was drafted by the Magic in 2021, has been a consistent starter for Orlando

ORLANDO, FLORIDA - MAY 03: Franz Wagner #22 of the Orlando Magic dribbles against the Cleveland Cavaliers during the first quarter in Game Six of the Eastern Conference First Round Playoffs at Kia Center on May 03, 2024 in Orlando, Florida.  (Photo by Julio Aguilar/Getty Images)

Franz Wagner is staying in Orlando. On Friday, the German forward agreed to a massive five-year, $224 million contract extension that will keep him with the Magic for the near future, per ESPN's Adrian Wojnarowski.

The deal, which is a maximum rookie extension, could be worth as much as $269 million. Per Wojnarowski, Wagner is eligible to earn 30 percent of Orlando's salary cap if he's voted to the All-NBA team.

Wagner averaged 19.7 points per game last season, second only to teammate Paolo Banchero, and also chipped in 5.3 rebounds and 3.7 assists per game.

Wagner has also been one of the most consistent players for the Magic in terms of games played: In three seasons in Orlando, he has missed only 15 games total and has racked up more than 7,000 minutes. Last season, he averaged 32 minutes per game.

Wagner was selected by the Magic eighth overall in the 2021 draft and quickly became a crucial starter. He was named to the NBA All-Rookie First Team in 2022 after averaging 15.2 points and 31 minutes per game.

Wagner joined his brother, Mo Wagner, on the Magic. The two are one of 13 sets of brothers in the NBA, but are one of only three — along with Giannis and Thanasis Antetokounmpo and Brook and Robin Lopez, who all play for the Milwaukee Bucks — that play for the same team.

Last summer, both Wagners helped lead Germany to a gold medal at the 2023 FIBA World Cup, with Franz earning All-Tournament Second Team honors for his efforts. The two are expected to play for Germany at the Olympics in Paris this summer.