Cole Anthony, the 15th pick of the 2020 NBA draft, has been one of the bright spots for the Orlando Magic in their rebuilding process. The young point guard averaged 12.9 points, 4.7 rebounds and 4.1 assists per game in his rookie season, showing flashes of potential as a scorer and playmaker. However, his future with the Magic is uncertain, as he is eligible for a contract extension before the start of the 2023-24 season. If the Magic do not extend him by October 18, 2023, he will become a restricted free agent next summer.
The Benefits of Extending Cole Anthony Now
One of the reasons why the Magic should consider extending Cole Anthony now is to avoid the risk of losing him in free agency. As a restricted free agent, Anthony can receive offer sheets from other teams, which the Magic can match or decline. However, matching a high offer sheet could limit the Magic’s financial flexibility in the future, especially when they have to pay their other young players like Franz Wagner and Paolo Banchero. Declining a high offer sheet could mean losing Anthony for nothing, or having to settle for a sign-and-trade deal that may not bring back equal value.
By extending Cole Anthony now, the Magic can lock him in at a reasonable price that reflects his current production and potential. They can also avoid the uncertainty and distraction of free agency, and focus on developing their core players. Additionally, extending Cole Anthony now could increase his trade value next summer, as he would have a new contract that kicks in on July 1st, 2024. This would allow the Magic to trade him immediately, without having to wait for his restricted free agency to be resolved. The Magic could use Anthony as a trade asset to acquire more talent or draft picks, or to consolidate their roster.
The Drawbacks of Extending Cole Anthony Now
However, there are also some drawbacks of extending Cole Anthony now. One of them is that it could limit the Magic’s options in the upcoming draft and free agency. The Magic are projected to have two lottery picks in the 2024 NBA draft, which is expected to be loaded with talent. They could use one of those picks to select a point guard who could be better than Anthony in the long run. They could also pursue a point guard in free agency, such as De’Aaron Fox or Trae Young, who could be available next summer.
By extending Cole Anthony now, the Magic could commit themselves to him as their point guard of the future, and miss out on other opportunities to upgrade their position. They could also overpay him based on his potential, rather than his actual performance. Anthony has shown promise as a rookie, but he also has some flaws in his game, such as his efficiency, defense and decision-making. He shot only 39.7% from the field and 33.7% from three-point range last season, while posting a negative net rating and a high turnover rate. He also missed 25 games due to injuries.
The Verdict
Ultimately, the decision to extend Cole Anthony now or not depends on how the Magic view him as part of their future plans. If they believe he can be their franchise point guard, or at least a valuable trade chip, they should extend him now and secure his services for the next few years. If they have doubts about his fit or ceiling, they should wait until next summer and see how he performs in his second season, and how the draft and free agency landscape shapes up.
The Magic have until October 18th to make their choice.
