Jalen Suggs has signed a five-year contract extension with the Orlando Magic worth an average of about $30 million per season, a person with knowledge of the terms told The Associated Press on Monday.

The Magic have agreed to sign guard Jalen Suggs to a five-year rookie scale extension worth $150.5M, sources tell ESPN’s Shams Charania (X link). According to Charania (via X), Suggs’ agent Darren Matsubara and team officials held a series of meetings in Orlando leading up to Monday’s extension deadline in order to finalize the terms of the deal.

Orlando, FL — The Orlando Magic have signed guard Jalen Suggs to a contract extension, President of Basketball Operations Jeff Weltman announced today. Per team policy, terms of the deal are not disclosed.