Paolo Banchero agrees to five-year max contract with unique option
Orlando Magic star Paolo Banchero was a first overall NBA Draft pick, and he has panned out so far. The Magic have a budding superstar, and they are locking him in for the forseeable future. Banchero and Orlando agreed to terms on a five-year rookie max contract extension on Monday, and the deal is worth $287 million. The contract also includes a player option, which is rare for a rookie max.
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'Breaking: Orlando Magic star Paolo Banchero has agreed to a five-year maximum rookie contract extension that could reach $287 million, Mike Miller of LIFT Sports Management tells ESPN,' Shams Charania said in a post. 'Deal includes a player option; the first for a rookie max since 2021 (Luka Doncic, Trae Young).'
Paolo Banchero will have a chance to increase his base salary based on how he performs. If he brings home certain accolades next season, he will see an increase.
'Miller said Banchero's new deal includes triggers to elevate the base salary to the supermax should the Magic franchise cornerstone make either an All-NBA team or earn MVP or Defensive Player of the Year honors next season,' a report from ESPN states.
So far, selecting Banchero has worked out for the Magic. After being one of the best players in college basketball with Duke, Banchero was selected with the first overall pick in the 2022 NBA Draft. He has now been in the league for three seasons, and there are few players that have a brighter future. Banchero is 22, and he has put up some ridiculously impressive numbers.
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'He's only the eighth player in NBA history to average at least 25, 7 and 4 at age 22 or younger,' the report added. 'And he joined Tracy McGrady and Shaquille O'Neal as the only Magic players to average more than 25 points in a season.'
The rebuild seems to be complete for the Magic. They were one of the better teams in the Eastern Conference last season, and now that Paolo Banchero is locked in, Orlando has its core all in place. Franz Wagner, Jalen Suggs and Banchero are all going to be around for a long time, and this team is only going to get better.
Related: Orlando bringing back Moe Wagner on 1-year deal
Related: Magic's latest decision leads to Mac McClung entering free agency
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