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Magic Lock Up Banchero With Five-Year, $239 Million Rookie Extension

Performance incentives with a player option underscore the Magic’s determination to build around their emerging star.

Paolo Banchero
Apr 27, 2025; Orlando, Florida, USA; Orlando Magic forward Paolo Banchero (5) is guarded by Boston Celtics guard Derrick White (9) in the second quarter during game four of first round for the 2025 NBA Playoffs at Kia Center. Mandatory Credit: Nathan Ray Seebeck-Imagn Images/File Photo
Magic forward Paolo Banchero slams in two of his 50 points in Monday's game against the Pacers.

Overview

  • Orlando and Paolo Banchero agreed on July 7 to a five-year rookie max extension worth $239 million.
  • The contract can escalate to $287 million if Banchero earns All-NBA honors or wins MVP or Defensive Player of the Year.
  • A player option for the 2030–31 season marks the first such provision in a rookie max extension since 2021.
  • Banchero has averaged 22.4 points, 7.1 rebounds and 4.6 assists across three seasons while overcoming a torn oblique to post career bests last year.
  • The deal locks in Orlando’s core—Banchero, Franz Wagner and Jalen Suggs—for at least five years and secures Desmond Bane through the 2028–29 season.