The flurry of rookie scale extensions ahead of Monday’s deadline continues, according to Adrian Wojnarowski of ESPN, who reports that the Magic and guard Cole Anthony have reached an agreement on a three-year deal. The extension will be worth $39M, agents Jeff Schwartz and Javon Phillips tell Wojnarowski.
Anthony, the 15th overall pick in the 2020 draft, has spent his first three years in the NBA in Orlando, appearing in 172 total regular season games during that time.
While he started 99 of 112 games in his first two seasons, Anthony came off the bench almost exclusively in 2022/23 and enjoyed his best year in terms of shooting efficiency, boosting his rates to a career-best .454/.364/.894. In 60 games (25.9 MPG) last season, he averaged 13.0 PPG, 4.8 RPG, and 3.9 APG.
The Magic project to have a crowded backcourt in 2023/24, with other recent lottery picks like Markelle Fultz, Jalen Suggs, Anthony Black and Jett Howard all vying for minutes. However, this investment in Anthony suggests Orlando envisions him continuing to play a substantial role in the rotation going forward.
Anthony’s deal is right in the range of the deal signed by another young guard, Coby White, who was a restricted free agent this summer. The Bulls guard received a three-year, $36M contract that can be worth up to $40M with incentives. It remains to be seen whether Anthony’s extension features any incentives or options.
Based on the reported terms of Anthony’s deal, Orlando still projects to have at least $30M in cap room in 2024, notes Yossi Gozlan of HoopsHype.
Anthony is the 12th player to agree to terms on a rookie scale extension so far in 2023, with the deadline just hours away. The previous record for most rookie scale extensions in a single season was 11, set in 2021 and matched in 2022 so that record is on track to be broken today.
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