Orlando Magic star Paolo Banchero agreed to a five-year, $239 million most rookie contract extension that might attain $287 million, Mike Miller of LIFT Sports activities Administration instructed ESPN on Monday.
Miller mentioned Banchero’s new deal consists of triggers to raise the bottom wage to the supermax ought to the Magic franchise cornerstone make both an All-NBA workforce or earn MVP or Defensive Participant of the Yr honors subsequent season.
The deal additionally has a participant possibility for Banchero in 2030-31 — the primary time a rookie max extension has had a participant possibility since 2021, when Luka Doncic (Dallas Mavericks) and Trae Younger (Atlanta Hawks) accomplished their rookie max contracts.
The Magic now have their core of Banchero, Franz Wagner and Jalen Suggs beneath contract for the subsequent 5 years in addition to newly acquired Desmond Bane beneath contract via the 2028-29 season.
Magic president Jeff Weltman mentioned after final season that the franchise would take an aggressive method this offseason, and after the acquisition of Bane and signing of veteran guard Tyus Jones, the workforce is well-positioned to be a contender within the Japanese Convention.
Orlando’s number of Banchero with the No. 1 choose within the 2022 draft triggered a turnaround for the franchise that has led to 2 postseason appearances previously two seasons.
Regardless of an indirect damage that sidelined him for 34 video games over the primary two months of 2024-25, Banchero went on to have a profession season, setting excessive averages of 25.9 factors and seven.5 rebounds to go together with 4.8 assists.
He is solely the eighth participant in NBA historical past to common at the least 25, 7 and 4 at age 22 or youthful. And he joined Tracy McGrady and Shaquille O’Neal as the one Magic gamers to common greater than 25 factors in a season.
Banchero took his sport to a different stage after the All-Star break, averaging 29.0 factors, 7.8 rebounds and 4.5 assists. Within the playoffs, he put collectively seven straight video games with 25 factors or extra spanning the 2024 and 2025 seasons, tying the longest streak in Magic historical past.
He has the third-most profession factors via three seasons in Magic historical past with 4,432, behind solely O’Neal and Penny Hardaway.
The 2022-23 NBA Rookie of the Yr, who earned his first All-Star choice in 2024, has averaged 22.4 factors, 7.1 rebounds and 4.6 assists in his three NBA seasons.
ESPN’s Bobby Marks contributed to this report.