Paolo Banchero Secures Landmark $287 Million Contract Extension with Orlando Magic, Setting the Stage for Future Stardom

Paolo Banchero, the standout player for the Orlando Magic, has finalized a five-year maximum rookie contract extension that could potentially amount to $287 million, as confirmed by his agent Mike Miller from LIFT Sports Management in a statement to ESPN’s Shams Charania.

As outlined in the report, “Miller noted that Banchero’s new agreement features conditions that could boost his base pay to the supermaximum level if he secures a spot on an All-NBA team, an All-Defensive team, or wins the MVP or Defensive Player of the Year award in the upcoming season.”

Moreover, the contract includes a player option for Banchero for the 2030-31 season, marking the first instance of a player option in a rookie max extension since 2021, when Luka Doncic (Dallas Mavericks) and Trae Young (Atlanta Hawks) signed their rookie max deals.

With this new agreement, the Magic solidify their foundation, having Banchero, Franz Wagner, and Jalen Suggs all signed for the next five years, along with the recently acquired Desmond Bane secured through the 2028-29 season.