The Orlando Magic have reached a deal to re-sign restricted free agent Evan Fournier, agreeing in principle Friday to a five-year contract worth $17 million per season, a league source confirmed to the Orlando Sentinel.
The contract will include a player option for the fifth season that will enable Fournier to become a free agent during the summer of 2020, the source said. Incentives will be built into the contract that could add an additional $1 million each season to the deal.
According to the source, Fournier turned down more lucrative offers from three other teams. That said, the Magic were the only franchise that could offer him a fifth season.
Re-signing Fournier was one of the Magic's top priorities this summer, and Fournier wanted to get a deal done, too.
On Thursday, just hours before the start of free agency, Fournier told the Orlando Sentinel, "Obviously, our priority is the Magic. I've said it many times: I feel great here."
Because of Fournier's status as a restricted free agent, the Magic had the right to match any offer sheet from another team.
Fournier was eligible to receive a maximum salary of $22.1 million in the first season of a new deal. So a contract worth $17 million per season represents a team-friendly value for the Magic.
The broad outline of the agreement was reported first by ESPN.
The 6-foot-7 swingman averaged 15.4 points per game and made 40.0 percent of his 3-pointers this past season.
The Magic gave Fournier a vote of confidence when they traded shooting guard Victor Oladipo and two other players for power forward Serge Ibaka on draft night. Trading Oladipo eased the team's logjam on the wing and made it more critical for the Magic to re-sign Fournier.
Fournier, 23, hopes to play for the French national team in the Olympics, but France first must win an Olympic qualifying tournament this month.
Free-agent contracts cannot be signed until the NBA lifts its moratorium period on July 7.
Since the Magic own Fournier's Bird rights, the team can sign other free agents first and then go over the cap to re-sign Fournier.
