ORLANDO, Fla. — The full look of the Orlando Magic's roster for the 2025-26 season is coming into focus after the team officially signed their draft picks and, according to multiple media reports, reached terms on 1-year contracts with two free agents.

On Thursday, the team officially announced that it signed No. 25 overall pick Jase Richardson, a guard out of Michigan State, and on Friday, Orlando announced that it had signed No. 32 overall pick Noah Penda, a forward out of Le Mans Sarthe of the LNB Elite league in France.

Multiple media reports also have indicated that the Magic have reached 1-year contract agreements with forward/center Moe Wagner and guard Tyus Jones to return.

The team does not disclose the terms of contracts it signs with its players. However, the NBA rookie scale for the No. 25 pick in the 2025-26 season is $2,983,320, and Richardson's contract is guaranteed for two years, while the Magic will hold team options on the deal for at least two years after that and could extend a qualifying offer for a fifth year. The value and length of contracts for second-round picks are negotiable so Penda's contract terms will not become public until after free-agent contracts can be signed starting Sunday. It is customary for teams to get their rookies signed before they begin practices for Summer League play, which for Orlando starts July 10 in Las Vegas.

According to multiple media reports, the value of Wagner's contract will be $5 million and for Jones' contract, it will be $7 million, but the financial terms will not become official until those contracts can be signed starting Sunday. The only reason these deals don't get top billing in this report is because they are not official yet.

Wagner would be returning to the Magic for a fifth season, and through 30 games last season, he was Orlando's top player coming off the bench. He averaged 12.9 points, 4.9 rebounds and 1.4 assists per game before tearing the anterior cruciate ligament in his left knee in the Dec. 21 game against the Miami Heat. He had signed a two-year, $22 million contract with the Magic before last season, but the second year of the contract was a team option. While he is the brother of Magic forward Franz Wagner, his role was much more than that to Orlando because he battled hard on the court and was a spiritual fire plug.

Orlando declined the team options earlier this week on both Moe Wagner and guard/forward Caleb Houstan as it tries to navigate the salary-tax and first-apron restrictions it faces under terms of the NBA's collective bargaining agreement. Because Orlando aggregated the contracts of two players — Kentavious Caldwell-Pope and Cole Anthony — in the trade that brought guard Desmond Bane to Orlando and that deal put them over the tax limit of $187.895 million, the team became hard-capped at the first-apron level. The Magic's payroll will jump sharply in the upcoming season because the rookie extensions on the contracts of Franz Wagner and Jalen Suggs both kick in, putting Suggs' salary for 2025-26 at $35 million and Franz Wagner's at $38,661,750. The first-apron limit means the total value of the Magic's contracts for next season cannot exceed $195.945 million. Declining the options on Moe Wagner and Houstan allowed them to dip below the luxury tax level, but if they sign Jones, that would put them back over the luxury-tax with limited room before hitting the first apron.

Jones would be coming to Orlando after 10 seasons in the NBA. The point guard averaged 10.2 points, 2.4 rebounds and 5.3 assists with the Phoenix Suns last season. He is a traditional point guard accustomed to running offenses and shot 41.4% from 3-point range last season. 

The rookie signings and reported free-agent contract agreements would bring Orlando's roster to the league-minimum 14 players. They can sign 15 total players to the team's regular roster and have three players on two-way contracts, which allows the players to compete with the team for a limited number of games and with the Osceola Magic for the rest of their games. Two-way salaries do not count against the salary cap. It is unclear whether the Magic can afford to sign another player without hitting the first-apron limit.