Former Gonzaga star Jalen Suggs expected to sign lucrative contract extension with Orlando Magic

Suggs is seen as a foundational piece next to Paolo Banchero and Franz Wagner in Orlando

Apr 25, 2024; Orlando, Florida, USA; Orlando Magic guard Jalen Suggs (4) dunks during the second half against the Cleveland Cavaliers during game three of the first round for the 2024 NBA playoffs at Kia Center. Mandatory Credit: Mike Watters-USA TODAY Sports / Mike Watters-USA TODAY Sports

Jalen Suggs has fully entrenched himself as a cornerstone piece for the Orlando Magic and the franchise’s future.

The former Gonzaga men’s basketball standout emerged as one of the best on-ball defenders in the NBA last season and was much improved from the 3-point line, where he shot 39.7% on 5.1 attempts per game. Suggs earned NBA All-Defensive Second Team honors after ranking in the top 10 in steals per game (1.9) and steal percentage (2.6%) while cracking the top 20 in defensive rating (110.4). He also received votes for the most improved player award after averaging 12.6 points, 3.1 rebounds and 2.7 assists.

Following the Magic’s playoff run, Suggs, the former fifth overall pick in the 2021 draft, is due a contract extension as his rookie deal is set to expire after the 2024-25 season. According to NBA insider Evan Sidery, Suggs’ payday could come sooner rather than later.

Jalen Suggs is a strong candidate to receive an extension from the Magic before the October 21 deadline.

Based off the current market, Suggs will likely earn $30+ million annually.

Suggs is viewed as a foundational piece in Orlando alongside Paolo Banchero and Franz Wagner. pic.twitter.com/WwdS0PvRzM

— Evan Sidery (@esidery) August 13, 2024

Sidery reported that Suggs is “a strong candidate” to receive a rookie-scale extension that could earn him over $30 million annually, based on the current market, and that a deal could be struck before the Oct. 21 deadline.

Rookie-scale extensions, which can be signed between July 6 through the day before the regular season starts, can range based on a player’s accolades and career statistics. Last year there were a record number of rookie deals that fit into five different tiers: “Supermax” ($35.3-42.3 million annually), near-max ($34-35.3 million), large ($29.3-31.7 million), mid-tier (around $12.8 million) and small ($7.5-8 million). 

A deal over $30 million annually would put Suggs in the “large” to "near-max" range. Minnesota Timberwolves forward Jaden McDaniels is perhaps the best comparison for Suggs. A young, lockdown wing defender, McDaniels signed a five-year, $136 million contract extension last offseason and was a key contributor in Minnesota’s run to the Western Conference Finals. Spotrac.com projects that Suggs will earn a four-year, $112 million extension.

The Magic understand the value of perimeter defense in today’s NBA, which is why veteran guard Kentavious Caldwell-Pope was brought in on a three-year, $66 million deal this offseason. The two-time NBA champion with the Los Angeles Lakers and Denver Nuggets should further Orlando’s identity as a gritty, hard-nosed team that is willing to muck things up in order to come out with a win. At 31 years old, Caldwell-Pope is by far the most experienced player on the roster.

Orlando wasted no time in coming to terms with fellow 2021 rookie Franz Wagner, who signed a monster five-year, $224 million extension on the first day of eligibility on July 6. The No. 8 overall pick out of Michigan shined last season, as he averaged 19.7 points, 5.3 rebounds and 3.7 assists. Wagner also joined Shaquille O'Neal, Dwight Howard and Tracy McGrady in scoring at least 4,000 points before his 23rd birthday, according to ESPN Stats & Information.