Cole Anthony has always been a solid contributor for the Orlando Magic in or out of their starting lineup despite the logjam they have in the backcourt. Entering the final year of his rookie contract, the two sides recently came to an agreement on a new deal.
On Monday, Anthony and the Magic agreed to a three-year, $39 million contract extension that will keep him under contract in Orlando through the 2026-27 season, first reported by ESPN's Adrian Wojnarowski.
Anthony, 23, was drafted 15th overall by the Magic in 2020 and has cemented himself as one of their key secondary scorers alongside Paolo Banchero and Franz Wagner. In 172 total games over the last three seasons, he's averaged 14.2 points, 5.0 rebounds and 4.6 assists per game.
With the new season beginning on Tuesday, today marked the final day for any player from the 2020 draft class to reach an extension before hitting restricted free agency next offseason. The Magic, who value Anthony's productivity in the backcourt, did not want the young guard to enter free agency, which is one of the main reasons an extension was reached.
While there was some discussion about the team possibly looking to trade Anthony before the 2023 NBA Draft, the Magic elected to hold onto their recent first-round pick. Now, he figures to be a part of their core group moving forward.
By signing Anthony to an extension now, the Magic lock up one of their young guards and they still maintain plenty of cap flexibility, as Orlando is expected to have upwards of $30 million to spend in free agency next offseason with almost their entire roster under contract.
A fair deal for both parties, Anthony now enters the new season looking to help take the Magic back to the playoffs for the first time since 2020.
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