The Orlando Magic have agreed to a three-year, $50 million contract extension with Markelle Fultz, Adrian Wojnarowski of ESPN reports. The deal will keep Fultz in Orlando through the 2023-24 season.
The 2023-24 campaign will come with a team option, Josh Robbins of The Athletic reports.
Fultz, acquired by the Magic in a trade with the Philadelphia 76ers at the 2019 trade deadline, has made steady progress with his new team after missing most of his first two years in the league to injury.
Fultz averaged 12.1 points and 5.1 assists per game in his first full season with the Magic in 2019-20. He’ll play out the fourth and final year of his rookie deal in 2020-21.
Fultz, the No. 1 pick in the 2017 NBA Draft, landed in Orlando after a tumultuous two seasons with the Sixers. The Magic organization bought low on Fultz as questions surrounding a mysterious nerve injury obscured the young guard’s value.
Orlando was patient with Fultz, allowing him to rehabilitate the injury for the remainder of the 2018-19 season after they traded for him.