ORLANDO, Fla. — Moe Wagner has agreed to a one-year, $5 million deal to return to the Magic, a league source told the Orlando Sentinel.

Wagner, who was in the middle of a career-best year this past season before suffering a torn left ACL in late December, became an unrestricted free agent last Sunday after Orlando declined his $11 million club option for the upcoming season.

The expected return of Wagner comes after the Magic signed free agent veteran guard Tyus Jones, who spent last season with the Phoenix Suns.

Later Friday, the Magic signed second-round pick Noah Penda, one day after first-round pick Jase Richardson signed his rookie-scale contract with the club.

With Wagner back in the fold and Penda signed, Orlando now has 14 players on standard contracts and sits right below the first apron spending threshold — a financial constraint set at $195,945,000 that’s part of the league’s fairly new collective bargaining agreement.

The Magic, however, are hard-capped at that figure because they likely used a portion of the non-taxpayer mid-level exception to sign Jones, meaning they can’t spend above that mark for any reason for the upcoming season.

With 14 players expected to be signed and not enough room for a veteran minimum signing to remain under the hard-cap, Orlando will likely leave its final standard contract spot open this summer (unless the franchise made a move to free up salary).

The Magic still retained Wagner’s Bird rights, allowing them to re-sign the backup center who’s proved more than worthy of returning to the franchise that’s become home for him in the league.

Because he signed a one-year deal, a Bird rights player has to consent to a trade, per CBA rules.

NBA free agency opened Monday at 6 p.m. ET — allowing teams to negotiate with all free agents. Sunday is when teams can officially sign free agents, starting at noon.

Wagner continues to recover from his ACL injury and is working to be ready by the start of next season.

“That’s part of the rehab — you go day-by-day, you figure it out, but, of course, that’s what I’m working toward,” Wagner said in early May about next season. “I’m pretty positive-minded toward that.”

In just 30 games, he averaged 12.9 points, 4.9 rebounds and 36% shooting from 3-point range, all marks that were personal bests. The older brother of star Franz Wagner, he scored in double figures 23 times, 20-plus points twice and 30-plus points once, including a career-high 32 points on Dec. 15 vs. New York.

But he’s more than just the brother of Franz and an “energy guy” off the bench.

Moe Wagner has become an important piece to Orlando’s culture under coach Jamahl Mosley both on and off the court.

“We’ve been playing hard ever since we got here,” Wagner said recently. “That’s what Moe stands for. I know that even if we didn’t win, I know that nobody wants to see us.

“I know that playing the Orlando Magic is not a fun night and that’s something we embrace.”

____

©2025 Orlando Sentinel. Visit orlandosentinel.com. Distributed by Tribune Content Agency, LLC.