Jalen Suggs’ extension proves the Orlando Magic are walking their talk

ORLANDO – At media day three weeks ago, Orlando Magic president of basketball operations Jeff Weltman was pressed with one final question.

How committed are you to keeping this core together?

Weltman, who had spent the last 14.5 minutes discussing the importance of continuity — investing in the Magic’s upward trajectory — collected his thoughts and responded.

“I think our actions prove our intentions,” Weltman said. “I don’t just talk it, I walk it too.”

Guard Jalen Suggs was still seeking a contract extension for the rookie, but Weltman made it clear that the rising fourth-year guard is “a big part of our job.” He reiterated that Orlando was in good standing with Suggs’ representatives and that both sides were hoping for a deal.

Less than an hour later, Suggs gave his side in front of the same microphones.

“I want to be here,” Suggs said. “I wouldn’t want to be anywhere else.”

On Monday — exactly three weeks after media day — Suggs signed a five-year, $150.5 million contract extension that cemented him as a long-term part of the Magic’s future and continued Orlando’s policy of developing young talent from their rookie deals .

The Magic have followed their words with actions. Again.

Suggs, the No. 5 pick in the 2021 NBA Draft, is Orlando’s latest developmental success story. The Magic’s leading defensive player transformed himself into a reliable three-and-D option last season, posting a career-best 39.7 percent shooting percentage while earning an NBA All-Defensive Second Team selection.

2023-24 was Suggs’ healthiest year to date, playing and starting 75 of the Magic’s games, in a season that saw Orlando return to the playoffs with 47 wins. In addition to his personal high three-point percentages, Suggs recorded jumps in points (12.7), FG% (47.1), eFG% (57.8) and steals per game (1.4).

“Jalen is an up-and-coming player,” Weltman said. “Jalen has gotten a lot better [and] will continue to get better.

Now Magic and Suggs can grow together over the next six years.

“This place raised me,” Suggs said. “They were part of my development as a human being (at a crucial point in my life – not in my career. In my life). Coming here as a 19-year-old, going to this place as a 20-year-old young man, I have all my highs and depths and experienced everything that I have experienced. I live here, where my family has been at home for four years.

“As long as I’m here, this place is close to my heart. I can’t wait to continue to get on the court here and show how grateful and appreciative I am for this place and everything they’ve done for me through my play and everything I do.

Suggs’ high character was again evident Monday during the Magic’s annual Pick, Read and Roll event at the Kia Center. Thousands of Orange County elementary school children flooded the arena’s lower floor with noise and cheers as the Magic players emerged one by one.

As the most consequential negotiations of his career were underway between his representatives and Magic officials, Suggs was surrounded by his teammates and grabbed the microphone to speak to the children in attendance. They hung on his every word.

Suggs is outward and visible with his faith. That being said, it is these people that Orlando’s young guardian surrounds himself with and leans on in times of need. It is this organization that has invested in his future, both figuratively and financially, and now sees him as an integral part of the future team. It is this community in which he has anchored himself and which returns his love.

That’s what makes it so easy for Suggs to give his all for Orlando. And that’s why this deal never felt like an if, but rather a when.

All future salary cap figures used in this section are courtesy of Spotrac.

Suggs’ guaranteed deal has an average annual value of $30.1 million, but is structured to increase in value and preserve about 16% of the Magic’s salary cap.

The contract begins in 2025/26 and Orlando has 12 players under contract. The contracts of Moritz Wagner, Cory Joseph and Caleb Houstan each include club options for the season, giving Orlando approximately $16.5 million in flexibility. If Orlando returns all 15 players from this year into next year – a highly unlikely scenario in the current NBA – Orlando will have an active cap hit of $190 million on the books next year.

That would put Orlando slightly above the luxury tax, but a few million below the strict, restrictive first and second tax thresholds.

“There are external forces in this league,” Weltman said. “And I have told you many, many times that they come after us like they come after everyone else. This CBA will impose financial restrictions on every single team and we are no different. So this.” “One of our future challenges will be to keep the train on the same tracks.”

Next summer, the big challenge for Orlando is extending Paolo Banchero’s rookie contract. Should he receive the maximum available rookie extension offer, which is 25% of a team’s salary cap, Orlando would have invested a total of around $600 million in contracts in the trio of Banchero, Franz Wagner and Suggs.

If Banchero agrees, his contract would not come into effect until 2026/27. There are currently only five players on Orlando’s books under contract this season, and a deal with Banchero would bring that to six. A big reason Orlando often includes player or club options in contracts during its negotiations is to maintain flexibility, and the Magic front office has avoided pigeonholing itself into future courses of action.

It also makes sense for Suggs to complete the deal now. As more teams commit money to expansion, not everyone has the freedom to spend money in the summer and put up numbers flashy enough to lure talent away from their original team.

Orlando is giving its young team a $150 million vote of confidence, and Suggs will receive a salary that reflects his past and future contributions.

After the extension is complete, all you have to do is play.

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