Teams must offer extensions to members of the 2018 draft class before 6 p.m. EST or allow them to become restricted free agents. Bagley was selected with the No. 2 overall pick that year.
You can check out our full list of players still eligible for their rookie-scale extensions right here.
Bagley, 22, is 6-foot-11 and has had an up-and-down career thus far, though an injury kept him out for all but 13 games of the 2019-20 season.
He appeared in 31 games last season, averaging 14.1 points and 7.4 rebounds — numbers that fall in line with his three-year career average.
Unrestricted free agency might be the more likely outcome for Bagley, wrote Jason Anderson of the Sacramento Bee.