Magic Guarantees Markelle Fultz Contract; Extension Coming?

Markelle Fultz is heading into the final year of his contract with the Orlando Magic this season.

ORLANDO - The Orlando Magic is officially bringing back one of its starters after guaranteeing point guard Markelle Fultz's contract for the 2023-24 season.

By guaranteeing Fultz's contract, Orlando will pay him $17 million in the final season of a three-year contract. The sixth-year guard would have become a free agent if the Magic declined to guarantee his contract. 

Guaranteeing Fultz's contract was a no-brainer. The ascending guard set career highs in points (14) and assists (5.7) per game. Fultz also matched a career-high in games started with 60 and 29.6 minutes played per game in 2023. 

The bigger question that looms is Fultz's future after next season.

Fultz is entering the final year of his contract and will become eligible for a contract extension on Sept. 30. If Orlando believes Fultz can continue to improve offensively and play more minutes, then giving he's more than deserving of an extension. 

But it may not be that simple. 

Orlando has been accumulating guards and added two more through the 2023 draft with Arkansas' Anthony Black with the No. 6 pick and Michigan's Jett Howard with the No. 11 pick. The Magic also have two other young guards in Cole Anthony and Jalen Suggs. 

While Fultz may currently be the best of the bunch, depth and cap space will play a role in his future in Orlando. 

The former No. 1 pick is also the second-longest tenured member of the Magic, only trailing Michael Carter-Williams. They're also the only remaining players from when Orlando last reached the playoffs in 2020.

Fultz has gone from potentially being a bust as a former No. 1 pick to becoming a key cog in Orlando's rebuild. If the 25-year-old guard can continue to improve and lead a young Magic squad, he'll likely earn himself another multi-year contract with Orlando. 

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