Jalen Suggs, shooting guard for the Orlando Magic, is reportedly seeking an average annual value of at least $30 million for a contract extension, according to NBA insider Marc Stein.

Suggs, the former No. 5 overall pick out of Gonzaga, was drafted by Orlando in 2021 and is currently under a four-year, $29.96 million contract with the team.

The NBA is approaching its 15-man roster deadline for the 2024-25 season on Monday.

Suggs is set to become a restricted free agent at the end of the upcoming season and the Magic's decision regarding his contract extension could significantly impact his choices during the offseason.

The 23-year-old averaged 12.6 points, 3.1 rebounds and 2.7 assists last season for Orlando while shooting 40 percent from beyond the arc. The Magic finished the 2023-24 season with a 47-35 record, earning a playoff berth for the first time since the 2019-20 campaign before falling to the Cleveland Cavaliers in the first round.

Orlando and Suggs will kick off their season on Wednesday against the Miami Heat on the road.