The Orlando Magic are committing to the franchise's long-term structure, extending the contracts of president of basketball operations Jeff Weltman and general manager John Hammond through the 2025-26 season, sources told ESPN on Monday.

Source: Adrian Wojnarowski of ESPN

ANALYSIS: Wojnarowski added that Magic CEO Alex Martins engaged his front office in talks beginning with the end of last season, and recently finalized terms on the new deals and a formal announcement is expected to come later in the week.

The Magic have accumulated a nice young core of talent with Franz Wagner, Jalen Suggs, and Cole Anthony and ownership is pleased with the pieces they have to build around.