Paolo Banchero has checked a number of bins since becoming a member of the Orlando Magic. Gained rookie of the yr, been an All-Star, helped the group to the playoffs twice.
And now, the Magic are betting on there being extra — way more.
Banchero has agreed to the richest contract in Magic historical past, a five-year extension that’s value $239 million and will attain about $287 million ought to he turn out to be eligible for a supermax deal, an individual with information of the settlement stated Monday.
The individual spoke to The Related Press on situation of anonymity as a result of the signing had not been introduced by both Banchero or the Magic. ESPN, which first reported the settlement, stated it additionally included a participant choice for the ultimate yr.
The settlement means the Magic have 4 gamers — Banchero, Franz Wagner, Jalen Suggs and the newly acquired Desmond Bane — below contract for the subsequent 4 seasons. And within the instances of Banchero, Wagner and Suggs, the phrases lengthen out at the very least 5 seasons.
Banchero was the rookie of the yr in 2022-23, residing as much as his billing after being the No. 1 choose within the 2022 NBA draft. He was an All-Star in his second season and was nicely on his strategy to that once more final season earlier than an early-season indirect damage.
He completed the season averaging 25.9 factors and seven.5 rebounds, each profession highs, and led the Magic to the playoffs for a second consecutive yr.
He’ll play the ultimate yr of his rookie deal this season, at about $15.3 million. His wage — relying on whether or not the supermax provisions are met or not — would then bounce to both round $41 million or $49 million for 2026-27, when the extension kicks in.
The contract tops the $224 million extension that Wagner signed final summer season to stick with the Magic. That was a group document on the time, although it was anticipated then that Banchero’s subsequent take care of the Magic would surpass it.
