Orlando Magic still need to figure out what their heart and soul is worth

The Orlando Magic had completed most of their offseason work when Jeff Weltman met with the media to introduce Kentavious Caldwell-Pope informally in early July.

They had added the veteran guard to bolster their starting lineup. They retained Goga Bitadze, Moritz Wagner and Gary Harris to maintain a deep bench. They signed Franz Wagner to a max extension and renegotiated Jonathan Isaac's contract.

The 2025 roster was set. The Magic were confident they had built a team that could improve on their 2024 season and continue the growth that that the team was on for the last three years.

There is just one thing left to do for the Magic. And at least in early July, there was still some confidence something would get done.

But with Summer League over, the question remains for the Magic for this last piece of business: How much is Jalen Suggs worth and what kind of contract will he sign? Ultimately, the Magic have to answer a critical question: How much is their heart and soul worth?

That is the central question facing the team as they continue these critical negotiations.

"Jalen is obviously a really important player for our team," Weltman said on July 6. "He had a great season last year. He means a lot to us. He has a great agent who we are in constant communication with. Beyond that, you know I won't comment on negotiations with any of our players."

The Magic are in the midst of extension talks with Suggs, but whether they agree to one before the deadline at the start of the season or wait for next summer remains unclear. They have until the start of the season to get a deal done.

There have been hints of the deal getting done—including Weltman commenting publicly during Summer League that they are hopeful to get a deal across the finish line. Suggs also sat out scrimmages during the U.S. Select Team camp, hinting that he was protecting himself ahead of signing a new deal.

But there has been no traction seemingly on a new deal yet. Then again, a deal could come at any time.

Jalen Suggs was key to the Magic's breakthrough season

There is no understating how much Jalen Suggs' breakthrough in 2024 changed the Magic. It was not just about his statistics but his spirtiual improvement that unlocked the team for success.

Suggs averaged a career-best 12.6 points per game last year. He shot a career-best 57.8 percent effective field goal percentage thanks to a breakthrough 39.7 percent showing from three. He made 40.7 percent of his catch-and-shoot threes, making him a real weapon from three.

Considering Suggs shot 21.4 and 32.7 percent in his first two seasons, that was transformative for him and the Magic.

Orlando understood very early on that Suggs was a dominant defensive player. He broke through to be named to the all-defensive second team last year, confirming the faith in him on that end. He was challenged to hit that mark and accept that role and everyone acknowledged him as the "head of the snake" of the team's defensive prowess.

Suggs quickly became the heart and soul of the team last year. He was the one beating his chest after big plays and engaging fans in home games. He played at a maniacal intensity and brought everyone's intensity up.

It is hard to understate this impact. It is something that no one can measure.

But Suggs had a penchant for making big plays and raising the intensity of those around him. He gave the team an edge and bravado on the court that is necessary to a team's success—where would the Magic be without him laughing as Darius Garland got into his face during Game 4 of the playoffs?

Suggs is indeed the heart and soul of the team in many ways.

Putting a dollar amount value on that is difficult though. Especially considering how much he struggled in the first two seasons in his career.

The non-max market for rookie extensions is not yet set

It is one thing to play, it is another to find the right dollar amount, especially with the financial constrictions baked into the CBA. Orlando is going to sign Jalen Suggs to a new deal. The question is just how much will they pay for him.

And this is uncharted territory.

So far, only max extensions have been signed among the top picks from the 2021 NBA Draft. Scottie Barnes, Cade Cunningham and Evan Mobley joined Franz Wagner in receiving max five-year, $224 million extensions.

With those deals done, the next wave of players—which includes Jalen Suggs, Jalen Green, and Alperen Sengun in that class—are likely to get taken care of next. Since they are not max players there is much more negotiating that has to take place. And there are no benchmarks for what they are ultimately worth.

The NBA's new TV deal is done and the salary cap is expected to jump by the maximum 10-percent for several years. That is why the Magic are certainly comfortable giving Wagner a max deal. It is why they might be willing to give Suggs a contract starting near $30 million per year.

Of course, they know that Paolo Banchero's max contract is looming. That deal could be worth five years, $299.1 million and even more if he makes the All-NBA team. The Magic will likely be over the tax line after signing Suggs to his new deal.

Orlando is threading a bit of a needle here too, realizing the cap realities they will face in the next few years. The Magic's era of free spending is ending with this extension for Suggs, explaining at least in part the team's relatively conservative summer.

Jalen Suggs still has a lot to prove

The notion at the beginning of the offseason was the Orlando Magic might wait on extensions to preserve cap room and make one more run at free agency. But signing Franz Wagner to his max deal closes that door.

The question then with Jalen Suggs is about how he continues to grow.

To be sure, Suggs still has a lot to prove. The 2024 season was his first successful season after he struggled in his first two seasons with the Magic.

Suggs has to show he can do it again and stay healthy on top of that. The Magic might have some reasons to remain patient just as much as Suggs has reason to believe he can further maximize his value by besting his 2024 season.

Either way, there is no replacing what Suggs does for this team when he plays. They are a better team with him and they lose a lot when he is out.

Last year, he played in 75 games last year after appearing in only 101 total in his first two seasons. Suggs is a player who will throw himself into the mix and often feels like he is held together and playing through multiple injuries.

That he does that is part of what makes him so important. That toughness rubs off on everyone.

Moving forward, Suggs is expected to take on more of the point guard role. That should give him more latitude to create and drive, something he struggled with in his injury-plagued early seasons. There is still a lot left to learn about Suggs and where he fits on this team beyond his defense.

He is unproven in this role though. And his game will have to expand and change.

That is why putting a price on how important Suggs is will still be difficult.

It is certainly possible that the Magic want to see if Suggs can match his stellar 2024 season before making any long-term decisions on his future. And it is certainly possible Suggs wants to play out the season and try to maximize his value.

There seems very little possibility that Suggs will play for another team after next season. The Magic are likely to match just about any offer Suggs might receive, assuming he stays on his current track.

For now, it seems like the two sides are still trying to get that deal over the finish line, whatever it may be. Orlando knows how valuable Suggs is to this team. But putting a price on that is the challenge in negotiations.