<div class="quote_poster">Quote:</div><div class="quote_post">The team hopes to sign its young star to a 5-year contract extension worth $85 million. Tim Povtak | Sentinel Staff Writer June 21, 2007 Although the signing might not be done until the business of free agency has begun next month, his presence and the talk of the Magic's commitment to him will be used to help lure any free agent who is wavering. "Everyone knows Dwight is going to be here for a long time,'' General Manager Otis Smith said. Under the rookie scale extensions in the NBA's collective bargaining agreement, a player such as Howard going into his fourth season can sign his new deal any time between July 11 and Oct. 31. Both the Magic and agent Aaron Goodwin essentially have agreed to the terms. The exact value of Howard's contract -- which will be the maximum allowable under the CBA -- can't be determined until the salary cap is set in July 2008. His extension will apply from the 2008-09 season through the 2012-13 season. Howard will play this season under the final year of his rookie contract, paying him $6.1 million. Howard's salary for 2008-09 will be worth 25 percent of the team's salary cap, the most allowed for a player with less than seven years' experience. Based on a conservative estimate of a $56 million cap, his salary will start at $14 million, making maximum annual jumps of 10.5 percent (off of the starting salary), then finish at $19.88 million. The average salary of $16.94 million will be the highest in franchise history. He also will be 27 years old when the contract ends, perched to sign a considerably larger contract. Howard, the No. 1 pick of the 2004 draft, is following in the contract footsteps of Chris Bosh (Toronto), Carmelo Anthony (Denver), LeBron James (Cleveland) and Dwyane Wade (Miami), all of whom signed maximum allowable extensions last summer after being part of the 2003 draft class. James and Wade, though, wanted only four-year deals. An earlier version of this story incorrectly stated the draft year for Dwight Howard. "We have a lot of other things to deal with first [the draft, free agency, potential trades],'' Smith said. "We're in no hurry [with Howard], but it will get done.'' While Howard has been assured of his deal, the same can't be said for point guard Jameer Nelson, who also joined the team in the 2004 draft. Although he also is eligible for an extension and has said that he wants one, Smith would not commit to making it happen. Nelson, the starter last season, averaged 13 points, 4.3 assists and 2.4 turnovers. While Howard became an all-star and established himself as one of the league's elite young players, Nelson had his ups and downs, and his value to the franchise still is being debated. If Nelson doesn't sign an extension before the season begins, he will become a restricted free agent next summer. "We're going to talk and see where that conversation goes,'' Smith said. "If a deal makes [financial] sense, it will get done. If not, it won't.''</div> Source: Orlando Sentinel
