The Orlando Magic likely will begin talking with Nik Vucevic's representatives about a potential contract extension for the 23-year-old center around Labor Day, according to an industry source familiar with team officials' thinking.

The collective bargaining agreement allows teams to extend first-round picks' rookie-scale contracts in the months leading up to the players' fourth NBA season.

Vucevic and forward Tobias Harris are eligible for extensions, and the Magic also are likely to discuss a possible extension with Harris' agent around Labor Day.

Any extension for either player must be reached before Nov. 1, per rules outlined in the collective bargaining agreement.