Magic sign Suggs to reported 5-year, $150.5M extension

The Orlando Magic announced Monday they signed guard Jalen Suggs to a contract extension.

Terms weren't disclosed, but sources told ESPN's Shams Charania the deal is for five years and $150.5 million. It also descends in value, starting at around $35 million and finishing at $26 million, The Athletic's Fred Katz reports.

Suggs, the fifth overall pick in 2021, struggled in his first two seasons as thumb and ankle injuries limited him to a combined 91 games. He fared significantly better in 2023-24, missing just seven games while posting averages of 12.6 points, 3.1 rebounds, 2.7 assists, and 1.4 steals and shooting 39.7% from deep.

The Gonzaga product also established himself among the better defensive guards in the NBA, earning himself a spot on the All-Defensive second team for 2023-24.

With a new deal through 2029-30, Orlando ensures Suggs will form part of its burgeoning, long-term core. The franchise signed star forward Franz Wagner to a five-year super-max extension in July worth up to $270 million and also has Jonathan Isaac and Wendell Carter Jr. under contract through 2028-29. Paolo Banchero, the first overall pick in 2022, will become eligible for his own likely nine-figure extension next summer.