Magic, Paolo Banchero Agree to Massive Maximum Rookie Contract Extension

The former No. 1 pick earned a five-year extension.

Orlando Magic forward Paolo Banchero reacts to a play. / Nathan Ray Seebeck-Imagn Images

The Orlando Magic and star Paolo Banchero have agreed to terms on a five-year, $239 million maximum rookie contract extension worth up to $287 million, ESPN's Shams Charania reported on Monday.

Banchero's new deal includes a player option for 2030–31, making it the first time a rookie maximum contract extension has included the option since 2021 when Luka Doncic and Trae Young both had it included in their deals.

The 22-year-old could reach a supermax contract if he achieves at least one of these milestones next season: All-NBA team, All-Defensive team, MVP or Defensive Player of the Year honors.

The forward was entering the final year of his rookie contract after the Magic selected him with the No. 1 pick in 2022.

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. Deal includes a player option; the first for a rookie max since 2021 (Luka Doncic, Trae Young). pic.twitter.com/bwnCrJbnmu

— Shams Charania (@ShamsCharania) July 7, 2025

Banchero posted career-high averages of 25.9 points and 7.5 rebounds this past season. He missed 34 contests because of an oblique injury, but still showed out when healthy.

Banchero has already made a lasting impact on the Magic franchise only three seasons deep. He's already scored 4,432 career points, and his career average of 22.4 points per game ranks third in Magic history behind only Tracy McGrady and Shaquille O'Neal—not bad company there. He was also named the NBA's Rookie of the Year during the 2022–23 season.

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