The Orlando Magic have signed guard Victor Oladipo, the second overall pick in last month's NBA Draft, the team has announced.
As with all first-round draft picks, the first two seasons of Oladipo's contract are fully guaranteed. Rookie-scale salaries are governed by the collective bargaining agreement, and the salaries for Oladipo's first two seasons are expected to be $4.76 million and $4.98 million, respectively.
The Magic will hold team options on Oladipo's third and fourth seasons, with his salaries expected to be $5.2 million for the 2015-16 season and $6.55 million for the 2016-17 season.
Oladipo will make his Magic debut in a few minutes, when the Magic open their summer league schedule against the Boston Celtics on the Amway Center practice court.
Josh Robbins covers the Orlando Magic and the NBA for the Orlando Sentinel. You can reach him via e-mail at firstname.lastname@example.org and connect with him on Facebook at facebook.com/JoshuaBRobbins. Follow him on Twitter at @JoshuaBRobbins.