Markelle Fultz was once labeled as a bust, but now, he is signing a new contract with the Orlando Magic.

According to ESPN's Adrian Wojnarowski, Fultz has agreed to a three-year, $50 million extension with the Magic.

Markelle Fultz began his career as the No. 1 overall pick by the Philadelphia 76ers in the 2017 NBA Draft. Coming out of Washington, he was an extremely talented guard that could score on all three levels of the floor.

However, the Magic guard dealt with a shoulder injury in his rookie season that would cause him to relearn how to shoot the basketball. As a result, he spent plenty of time altering his jump shot, working tirelessly to try and get back to where he was in college. In his rookie season, Fultz played in only 14 games, recording 7.1 points, 3.1 rebounds and 3.8 assists per game.

The Washington product proceeded to spend only two seasons with the Sixers due to his injury woes. Following his time in Philadelphia, Fultz was traded to the Magic before the 2019-20 season, with Orlando hoping they could help him return to being a potential star.

While he didn't put up gaudy numbers, Fultz showed improvement in his first year with Orlando. Besides being able to play in 72 games, Fultz managed to average a career-best 12.1 points and 5.1 assists while playing 27.7 minutes per game for the Magic.

After inking a three-year deal with Orlando, it seems as if Fultz may have been able to finally find a place to call home with the Magic.