One financial deadline looms large for the Orlando Magic and starting guard Jalen Suggs.

Heading into his fourth NBA season, the former Gonzaga product and No. 5 pick by the Magic in the 2021 NBA draft is up for a possible rookie scale contract extension before the NBA season tips off. If the two sides come to an agreement, Suggs’ contract would kick in following the upcoming 2024-25 season, and the Magic would avoid going to restricted free agency with the two-way guard who has become an elite perimeter defender and one of the integral parts of the Magic’s young core.

Orlando signed his draft classmate Franz Wagner, the 8th pick in the same ’21 Draft, to the maximum possible extension this summer. Wagner signed the dotted line on a new 5-year, $224-million deal – one of five finalized extensions or retentions the Magic completed over the summer.

Outside of fulfilling the final two two-way spots on its books, finding the right number to agree upon between Orlando and Suggs’ camp could be the final box to check before the regular season tips off. With the deadline less than a month and a half away, it begs the question: What number do Suggs and the Magic meet at?

Suggs is represented by Darren Matsubara and Jason Ranne of Wasserman Basketball.

On a new episode of “The Lowe Post,” ESPN senior NBA writer Zach Lowe and front office insider Bobby Marks discussed several rookies entering their fourth NBA season in search of a contract extension. As one of the highest-profile players fitting that category, Suggs’ was one of the players brought up in conversation.

“I would be surprised if that doesn’t get done by the 21st,” Marks said. “I think the number falls – maybe in that $27-$28 million range is fair for him.”

Lowe reasoned that the “goodwill” and positive feedback on how Suggs and the Magic are developing could be a contributing factor to help spurn a deal. While not necessarily a max-level player, Lowe feels that Orlando and Suggs could come to an agreement anywhere around $30 million that would satisfy both sides on a deal.

Suggs’ third NBA campaign was his best yet, earning an All-Defensive Second Team honor while averaging 12.6 points, 3.1 rebounds, 2.7 assists and 1.4 steals on 47.1/39.7/75.6 shooting splits. If he develops more as a playmaker and offensive initiator to help take the stress off of Paolo Banchero and Franz Wagner, who the Magic love to utilize as offensive engines through the first stages of their career, he could be one of Orlando’s biggest risers again in 2024-25.

As Marks mentioned, Orlando has a knack for signing players to descending contracts that help keep their finances in good shape and maintain flexibility – a necessity in the tax apron era imposed by the current CBA. Four current players on the Magic roster have a deal that descends in value over the latter years of the agreement in various amounts: Jonathan Isaac, Kentavious Caldwell-Pope, Wendell Carter Jr. and Goga Bitadze.

Such freedom allows the Magic to keep cap space for deals down the line, whether it be utilizing tradeable contracts for a future transaction or when it knows a max contract extension is coming, e.g. Paolo Banchero following his upcoming third NBA season.

Magic president of basketball operations Jeff Weltman said in an NBA Radio interview this July that Suggs’ extension getting over the finish line was something Orlando “eventually” hoped for. The timeline is different with each player and every conversation, but the Magic would love to keep its young core together, Weltman said.

Signing Suggs could be important for the sake of avoiding restricted free agency next summer. In that instance, an opposing team could offer a higher value than Orlando may feel comfortable matching, forcing them to make a tough decision on whether to accept it at the heightened value or let him walk for nothing. On the cusp of year-in, year-out contention, the Magic’s window would be severely tightened should a deal not be completed.

Until that’s a more likely reality, though, the focus should be on meeting at the right number this summer. Rewarding Suggs for his breakout season and keeping him in the fold for years to come would be the backing from the front office that inspires confidence in a player’s trajectory and impact to a team.

Suggs has shown he has both in abundance, answering questions of whether he’d pan out to the value of his high draft selection.

A new contract is the next answer the two sides should come to.

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