Magic fans had big hopes and expectations for their team’s 2024 offseason. After all, the Magic were one of the few playoff teams with significant cap space available and had some obvious needs to fill.
Rather than chasing one of the former All-Stars available in free agency, the Magic elected to sign Kentavious Caldwell-Pope, re-sign most of their own free agents, and extend Franz Wagner. Getting Caldwell-Pope is widely regarded as a great move that can help the Magic take the next step towards being a contender.
Wagner’s extension, on the other hand, did not have everyone as excited. The 2021 NBA Draft class got paid this summer. Franz Wagner, Scottie Barnes, Evan Mobley, and Cade Cunningham all got a $224 million max extension. That contract is usually reserved for All-Stars, franchise players, and budding superstars. Out of this group, only Barnes has made an All-Star team so far but Cunningham is also the face of his team and Mobley could be soon enough.
Plenty of Magic fans were just happy that Wagner will be under contract for the next few years and they wouldn’t have to worry about their young star being unhappy. Other fans and analysts have quite a different view of the situation.
Doubts about Wagner’s max extension continue to surface
Bill Simmons noted on his podcast that giving Franz Wagner a max extension was a costly overpay. Likewise, Bleacher Report’s Eric Pincus recentlywrote that the “max seems a bit much”, citing his struggles from the 3-point line as a concern. Still, a B- is not a terrible grade for such a significant move.
Pincus’ colleague with Bleacher Report, Dan Favale, went one step further, listing Wagner’s max extension as the Magic’s biggest loss of the offseason due to the sheer amount of money they will have to pay him and his struggles from deep. Favale noted that Wagner is a talented player and does not receive enough credit for some of his growth, especially as a defender, but still does not view him as someone who should have gotten the max right out of the gate and with what seemed like little negotiation.
The Magic seem to have little to no doubt that Wagner will become an All-Star-level player worthy of this contract soon enough. If he does, they will get to laugh at anyone who doubted the move.
If he doesn’t, the Magic will have some serious problems to deal with. If Wagner is not the player they believe he can be—if he cannot figure out his three and comes up short in more big games—the Magic will have to find someone else to take over as the team’s second option while being stuck with his max salary. Fortunately, the salary cap increase will be working in the Magic’s favor, making Wagner’s salary seem not as expensive down the line.