Magic Sign Suggs to Reported 5-Year, $150.5M Extension

The Orlando Magic announced on Monday that they have signed guard Jalen Suggs to a contract extension. While the team did not disclose the terms of the deal, sources informed ESPN's Shams Charania that it spans five years and is valued at $150.5 million. According to The Athletic's Fred Katz, the contract decreases in value, starting at approximately $35 million and concluding at $26 million.

Suggs, selected fifth overall in the 2021 NBA Draft, faced challenges during his first two seasons, limited by thumb and ankle injuries that kept him out for a total of 91 games. However, he showed significant improvement in the 2023-24 season, playing in 75 games and averaging 12.6 points, 3.1 rebounds, 2.7 assists, and 1.4 steals while shooting 39.7% from three-point range.

In addition to his offensive contributions, Suggs has established himself as one of the stronger defensive guards in the league, earning a spot on the All-Defensive Second Team for the 2023-24 season.

With this new contract extending through the 2029-30 season, the Magic secure Suggs as part of their developing long-term core. Earlier this year, the franchise signed star forward Franz Wagner to a five-year supermax extension worth up to $270 million. Additionally, Jonathan Isaac and Wendell Carter Jr. are under contract through the 2028-29 season, while Paolo Banchero, the first overall pick in 2022, will become eligible for his own significant extension next summer.