ORLANDO, Fla. — Guard Jalen Suggs has signed a contract extension with the Orlando Magic, the team announced Monday.
The Magic did not release terms of the deal, as is standard team policy, but multiple media reports put the value of the deal at $150.5 million over five years.
What You Need To Know
- Suggs signs rookie contract extension with the Magic
- Orlando did not disclose contract details, but multiple media reports say it is for five years, $150.5 million
- The signing continues Orlando's trend of keeping its young core under contract long term
- The team faced a 6 p.m. deadline to reach a deal or Suggs could have become a restricted free agent after the season
“I want to be here,” Suggs told the media as the Magic opened training camp three weeks ago. “I don’t want to be anywhere else.”
He followed that up with a post on X, formerly known as Twitter, after the extension was announced.
So many deserve so much praise and thanks for their sacrifices and help to make today my reality. This is surreal, I’m so thankful to them and God for his unfailing love.
— Jalen Suggs (@jalensuggs) October 21, 2024
Orlando I was never leaving you, you’re my home. The people in this city are my family 4L. I love you 407 !💙
Magic President of Basketball Operations Jeff Weltman had said repeatedly that re-signing Suggs was a priority.
Orlando now has all of its starters under contract for the long term except All-Star power forward Paolo Banchero, who is not eligible for an extension until after the season that starts Tuesday. They have 13 players, including Banchero, under contract for at least two years.
During the offseason, Orlando signed forwards Franz Wagner and Jonathan Isaac and center Wendell Carter to contract extensions and signed guard Kentavious Caldwell-Pope as a free agent from the Denver Nuggets. Wagner's extension was for five years and at least $224 million, the largest in team history so far, but Banchero's is expected to top that next summer. Wagner's and Suggs' extensions will go into effect at the start of the 2025-26 season.
Isaac renegotiated his contract and is now under contract for five years and $84 million, and the team signed Carter for three more years and $59 million, putting him under contract through the 2028-29 season.
The Magic also signed centers Moe Wagner and Goga Bitadze and guard Gary Harris to multiyear contracts. Guard Cole Anthony signed a three-year, $39 million extension previously, and guard Anthony Black, guard/forward Jett Howard and rookie forward Tristan da Silva remain on their rookie contracts.
The sides had a deadline of 6 p.m. Monday to reach an extension, or Suggs would have become a restricted free agent at the end of the season.
Suggs, 23, played in 75 games last season, averaging 12.6 points, shooting 47.1% and 39.7% from behind the 3-point line — all career highs. He also made the NBA's All-Defensive second team last season and averaged 3.1 points, 2.7 assists and 1.4 steals per game. He was the No. 5 overall pick in the 2021 NBA Draft out of Gonzaga, and during his three-year NBA career, Suggs has averaged 11.6 points, 3.2 rebounds, 3.2 assists per game and 1.3 steals per game.