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Yahoo
3 days ago
- Business
- Yahoo
Magic's Luxury Tax Outlook After Paolo Banchero's $287 Million Contract Extension
Magic's Luxury Tax Outlook After Paolo Banchero's $287 Million Contract Extension originally appeared on Fadeaway World. The Orlando Magic have one of the more promising young cores in the NBA. Graced with uniquely talented players in their starting rotation, the team has locked in a franchise player for the future by offering Paolo Banchero a massive five-year contract, which could be worth up to $287 million. Banchero has shown steady improvement with each passing NBA season. Coming off a career year of averaging 25.9 points, 7.5 rebounds, and 4.8 assists, the 22-year-old has shown all the makings of a future superstar in the league. The contract extension offered to the Magic forward is the first rookie-scale max extension with a player option for the final year, a first since the contract extensions of Luka Doncic and Trae Young in 2021. This only displays the franchise's commitment towards building around its star. This will be a welcome sight for Magic fans, who have a lot to be excited about after their team's recent offseason moves. But there will be some concerns associated with the Magic's luxury tax situation in the future. With Banchero's contract extension being finalized, the Magic will have four players who are earning over $30 million once the forward's contract is in effect, with three nearing or exceeding $40 million. These are the expected cap hits of the team's core of Paolo Banchero, Franz Wagner, Desmond Bane, and Jalen Suggs for the 2026-27 season: Franz Wagner - $41.7 million Paolo Banchero - $41.3 million Desmond Bane - $39.4 million Jalen Suggs - $32.4 million While this poses long-term cap concerns for the Magic, with an estimated $350 million bill in the 2026-27 season, the 2025-26 season seems relatively more friendly. Orlando has done a great job of retaining some key rotation players on relatively team-friendly salaries. With the re-signing of Moritz Wagner on a one-year, $5 million deal, along with the addition of Tyus Jones, an expiring contract worth $7 million, the Magic have made some good deals. As things stand, with Banchero's contract only coming into effect in the 2026-27 season, the Magic are in a relatively comfortable cap position. With an estimated luxury tax bill of only $4.3 million, Orlando shouldn't have too much trouble meeting these demands. The Orlando Magic Have Invested For The Future The concerns associated with the Magic's luxury tax bill in the summer of 2026 are justified. But these are the risks the franchise is expected to take if it intends to compete for a title. The core of Banchero, Wagner, and Suggs has proven itself to be solid. The addition of Desmond Bane in the offseason has only added to the team's overall firepower, increasing their chances of making it out of the East. Given the state of the conference next season, with several teams debilitated and hobbled with injury, the Magic could emerge as clear-cut favorites to advance from the East. This investment in the team's core could be significant in revitalizing a title charge, something the franchise hasn't been able to do in a long time. With all the right pieces in place, the Magic will certainly be a team to keep an eye on next story was originally reported by Fadeaway World on Jul 8, 2025, where it first appeared.
Forbes
22-07-2025
- Sport
- Forbes
The Orlando Magic Have Nailed Their Offseason So Far
ORLANDO, FLORIDA - NOVEMBER 21: Paolo Banchero #5 of the Orlando Magic dunks the ball against the ... More Toronto Raptors during the first quarter of the In-Season NBA Tournament game at Amway Center on November 21, 2023 in Orlando, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by) As the Orlando Magic exited the 2024-2025 season, they found themselves stuck. They lacked depth at the guard position, and were badly in need of outside shooting, to the point where they simply couldn't move forward before those issues had been resolved. As they now exit the 2025 offseason, the Magic find themselves having checked off most items on their list, having attacked this summer with a level of aggressiveness rarely seen from this organization. Expensive, but necessary The Magic went hard after Desmond Bane of the Memphis Grizzlies, and had to relinquish a package that included four first-round picks, and a first-round pick swap to get him. One of those picks were, presumably, payment for Memphis taking on the contract of Kentavious Caldwell-Pope, who the Magic signed last offseason to a ridiculously large three-year deal worth $66 million. The arrival of Bane has given Orlando an All-Star caliber guard, who can initiate the offense, take a high volume of three-pointers, is a strong defender, and a guy who will punish teams for double-teaming Paolo Banchero or Franz Wagner. Bane immediately becomes Orlando's primary guard, which is good news for Jalen Suggs who can now become even more opportunistic within his shot-selection, allowing the 6'4 combo guard to focus on efficiency, and preserving energy for the defensive side of the ball, where he is nothing short of elite. Adding depth The Magic weren't done with just the Bane acquisition. They picked Jase Richardson, the sharp-shooting guard out of Michigan State, in the first round, and later signed Tyus Jones to a one-year deal worth $7 million. Richardson, another high-volume three-point shooter, is small but very capable of playing off the ball. He isn't a playmaker, at least not in the traditional sense, but he will be able to play off of players such as Bane, Banchero, Wagner, and even Suggs, by just presenting himself as spot-up option. As for Jones, he offers stability. Full stop. Not only has he hit 41.4% of his three-pointers of his last two seasons (657 total attempts), but he also offers playmaking, defensive intensity, and he rarely turns the ball over. The Magic now enter the 2025-2026 season with a guard rotation of Suggs, Bane, Jones, Richardson, and Anthony Black, the 6'7 combo guard who is entering his third season. That's a substantial upgrade from last season. While it can be argued that the Magic aren't quite done - as they still need a starting caliber center - this is certainly a major step in the right direction. Unless noted otherwise, all stats via PBPStats, Cleaning the Glass or Basketball-Reference. All salary information via Spotrac. All odds courtesy of FanDuel Sportsbook.
Newsweek
18-07-2025
- Sport
- Newsweek
Best NBA Win Total Over/Under Bets For 2025-26, Part II: Eastern Conference
Paolo Banchero and the Magic could be contenders in the East in 2025-26 after addressing last year's shooting struggles by landing Desmond Bane. Paolo Banchero and the Magic could be contenders in the East in 2025-26 after addressing last year's shooting struggles by landing Desmond Bane. Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. After diving into the best 2025-26 win total bets in the Western Conference last week, today we're tackling what could be a wide-open Eastern Conference. In the wake of late-season Achilles injuries to Bucks guard Damian Lillard, Pacers guard Tyrese Haliburton and Celtics forward Jayson Tatum, oddsmakers expect big seasons from last year's 1-seed, Cleveland, and reigning Eastern Conference runner-up New York. The pecking order after those two teams is expected to feature Orlando -- which we'll have plenty to say about below -- and play-in fixture Atlanta. '25-26 NBA Eastern Conference Win Total Odds DraftKings FanDuel Cavaliers 55.5 (o-115; u-105) 56.5 (o-102; u-130) Knicks 51.5 (o-120; u+100) 52.5 (o-122; u-108) Magic 51.5 (o-110; u-110) 50.5 (o-120; u-110) Hawks 46.5 (o-120; u+100) 47.5 (o-102; u-130) Bucks 44.5 (o+100; u-120) 44.5 (o-102; u-130) Pistons 45.5 (o-105; u-115) 45.5 (o-114; u-114) Celtics 44.5 (o+100; u-125) 43.5 (o-125; u-106) 76ers 43.5 (o-100; u-110) 41.5 (o-130; u-102) Pacers 38.5 (o-110; u-110) 38.5 (o-118; u-112) Heat 37.5 (o-105; u-115) 38.5 (o-104; u-128) Raptors 35.5 (o-110; u-110) 37.5 (o-112; u-118) Bulls 32.5 (o-110; u-110) 32.5 (o-108; u-122) Hornets 24.5 (o-115; u-105) 25.5 (o-106; u-125) Nets 21.5 (o+100; u-120) 20.5 (+102; u-136) Wizards 20.5 (o-115; u-105) 20.5 (o-130; u-102) Best 2025-26 Eastern Conference Win Total Bets Below are our three favorite 2025-26 NBA Eastern Conference over/under win total bets. Orlando Magic Over 51.5 Wins (-120 at FanDuel) Just about every pundit loves the Magic's chances of taking a step forward after their blockbuster trade for former Grizzlies sharpshooter Desmond Bane, who has made 41 percent of his career 3-point attempts on heavy volume (career 3PA per game: 6.3). Bane -- who is also a solid ball handler and plus defender -- is much more than just an excellent shooter, though. His seemingly perfect fit with the Magic -- who suffered from poor spacing due to their league-worst 31.8 percent 3-point shooting in 2024-25 -- is the biggest reason Orlando has been widely praised for giving up four unprotected first-round draft picks, a first-round pick swap, Cole Anthony and Kentavious Caldwell-Pope for a player who has never been an All-Star. If the much-needed addition of Bane goes anywhere near as well as expected and Paolo Banchero (46 starts in 2024-25), Franz Wagner (60 starts in '24-25) and/or PG Jalen Suggs (35 starts) can stay healthy*, the Magic could push Cleveleand and New York for the top seed in the East. For now, there are too many "ifs" to take Orlando to win the East, but a 52-win season in a manageable conference should be well within reach. Charlotte Hornets Over 24.5 (-115 at DraftKings) The Hornets have won just 27 games or fewer in four of the last six seasons, and there are major questions at center, where the current options are second-round rookie Ryan Kalkbrenner, fourth-year journeyman Moussa Diabate and 35-year-old Mason Plumlee. With that in mind, Charlotte is understandably expected to once again be one of the worst teams in the East -- and we haven't even gotten into whether the Hornets can count on LaMelo Ball to stay healthy. I'm nevertheless convinced there's major upside for this team. Last year, Charlotte was not only missing its top two players -- Ball and Brandon Miller -- for most of the year due to injury, but it also got just 13 games out of Tre Mann and 16 from Grant Williams. While the 23-year-old Ball has only enjoyed one healthy season in the league, Miller played 74 games as a rookie and was good for 34 minutes a night before a wrist injury derailed Year 2 after 27 games. But the biggest reason I'm bullish on the Hornets is the underrated offseason they've enjoyed under EVP of Basketball Operations Jeff Peterson. Charlotte got a ton of love for taking two quality shooters in Kon Knueppel and Liam McNeeley in the first round of the draft, and Kalkbrenner was a solid second-round pickup. The Hornets also have a handful of solid scoring threats on the perimeter after acquiring Collin Sexton from the Jazz, renewing Mann's contract and adding two proven vets in Plumlee and Spencer Dinwiddie. There's enough here -- especially if Diabate and Kalkbrenner prove at least serviceable at the 5 -- for the Hornets to grind their way to at least 25 wins even if Ball once again misses long stretches. And if (yes, it's a big if) the 2021-22 All-Star manages to stay healthy, the Hornets' first 40-win season since '21-22 is a realistic possibility. Detroit Pistons Over 45.5 Wins (-105 at DraftKings) After taking a massive leap from 14-68 in 2023-24 to 44-38 in 2024-25, could All-Star Cade Cunningham and the Pistons take another step forward in 2025-26? Personally, I'm bullish on one of the best young guards in the league leading a team that pushed the Knicks in the first round of the playoffs to another big season. The case for the Pistons in '25-26 starts with the dangerous combo of 23-year-old Cunningham and center Jalen Duren (21) continuing to improve in Year 5 for the former and Year 4 for the latter. The Pistons could also get a boost from the return of Jaden Ivey, who missed over 50 games in 2024-25, but was shooting over 40 percent from 3 through 30 games last year. Between Cunningham, Duren, lockdown defender Ausar Thompson, Ivey and 2024 No. 5 overall pick Ron Holland, the Pistons should have more than enough to offset the offseason losses of Malik Beasley, Tim Hardaway Jr. and Dennis Schroder. That's especially true if free agent acquisition Duncan Robinson, a career 39.7 3-point shooter, can replace Beasley's lights-out shooting. Newsweek may earn an affiliate commission if you sign up through the links in this article. See the sportsbook operator's terms and conditions for important details. Sports betting operators have no influence over newsroom coverage.
Yahoo
17-07-2025
- Sport
- Yahoo
Magic Guard 'Excited' to Play With Newly Formed Team
Magic Guard 'Excited' to Play With Newly Formed Team originally appeared on Athlon Sports. The Orlando Magic had the ideal opportunity to upgrade their squad by making the necessary adjustments during the NBA free agency period. The biggest move they made this offseason was trading for shooting guard Desmond Bane. It was an upgrade from Kentavious Caldwell-Pope, who struggled in his lone season with the Magic. The organization also added Tyus Jones, who signed a one-year, $7 million contract. With his addition, they addressed their backcourt concern after Cole Anthony was part of the Bane deal with the Memphis Grizzlies. Orlando secured their future after signing Paolo Banchero to a five-year extension and Moe Wagner to a one-year deal. The moves they made hint at a possible chance for the team to contend for a championship. On Wednesday, 24-year-old guard Jalen Suggs watched his team take on the Brooklyn Nets for the Summer League, where Orlando suffered a 94-90 loss. After the moves from the Magic's front office, Suggs was asked about his thoughts on the new-look team. "The sky's the limit," Suggs added. "I think obviously everybody's mindset is going on winning the championship. You hate to see guys go down, but there's opportunity in the east, and I think everyone recognizes it. So everybody's prepping for it. We're all on the same page and very excited to start the year. Brings a different energy." The Magic showed potential last season and made the playoffs for the second consecutive year. Unfortunately for Suggs and his team, they were eliminated in the first round by the Boston Celtics. But the Magic are optimistic following their strong summer. Additionally, Suggs will likely return to the lineup after being ruled out for the rest of the 2024-25 season. He underwent a successful arthroscopic surgery to address his left ankle. The 6-foot-5 guard appeared in 35 games last season, averaging 16.2 points, four rebounds and 3.7 story was originally reported by Athlon Sports on Jul 17, 2025, where it first appeared.
Fox News
09-07-2025
- Sport
- Fox News
Top picks in NBA's 2022 draft class reportedly cash in with massive contract extensions
The top three selections in the 2022 NBA Draft are getting paid. The Orlando Magic announced a five-year, $239 million contract extension for Paolo Banchero, the No. 1 overall pick in the 2022 NBA Draft, on Monday. Banchero's contract could be worth up to $287 million if he becomes eligible for a supermax deal. The Oklahoma City Thunder and Chet Holmgren have agreed to a five-year maximum rookie contract extension that could be worth up to $250 million, according to ESPN. Holmgren was the No. 2 overall pick in the 2022 NBA Draft. The No. 3 overall pick in the 2022 NBA Draft, Jabari Smith Jr., intends to sign a five-year, $122 million rookie contract extension with the Houston Rockets. Banchero, 22, won rookie of the year in the 2022-2023 season and has improved in each of his three seasons in the league. Banchero played 72 games in his rookie season and averaged 20 points and just under seven rebounds and 3.7 assists per game. In his second season. Banchero upped his scoring and assists averages. The former Duke star averaged 22.6 points, 6.9 rebounds, and 5.4 assists across 80 games and was selected to the All-Star team. This past season, a torn oblique muscle limited him to 46 games, but Banchero shined in the games he played. Banchero averaged 25.9 points while bringing in 7.5 rebounds with 4.8 assists a game. Banchero is the pillar of an ascending Magic team that has made the playoffs the last two seasons. Holmgren, 23, was an integral part of the Thunder team that defeated the Indiana Pacers in the NBA Finals. The former Gonzaga star played in all 23 of the team's playoff games and had the highest plus-minus (+169) of any player in the playoffs this season, according to ESPN. Holmgren missed his entire rookie season with a ligament tear in his right foot but played all 82 games the following season. He averaged 16.5 points, nearly eight rebounds, 2.4 assists and 2.3 blocks per game in his first season of NBA action. The 7-foot-1 star played in just 32 regular-season games last season as he missed time with a pelvis injury, but still posted very similar numbers to his first year in the games he played. Holmgren averaged 15 points, eight rebounds, two assists, and over two blocks a game when he returned from injury. Holmgren is a force on the Thunder's strong defense, and is considered one of the best defenders in the league. With the contract extension handed out to Shai Gilgeous-Alexander, the Thunder have two of their best players signed long-term as they look to start a dynasty. Smith, 22, is part of the young Rockets core that helped the team become the No. 2 seed in the Western Conference this season. Smith has been a consistent player throughout his three seasons in the NBA. In 212 career games, the former Auburn star averaged 13 points, 7.5 rebounds, and 1.3 assists per game. The Phoenix Suns reportedly tried to acquire Smith in the Kevin Durant trade, but the Rockets rebuffed requests to include him, according to ESPN. With the addition of Durant to the Rockets' core, the franchise hopes he can push them over the top to make a run deep into the playoffs. Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
