Orlando Magic forward Paolo Banchero has agreed to a five-year maximum rookie contract extension worth $239 million with the NBA club, according to multiple reports on Monday.

The 22-year-old American, taken with the first pick in the 2022 NBA Draft, could make up to $287 million in the deal, according to reports by ESPN, The Athletic and the Orlando Sentinel.

Banchero suffered a torn oblique and missed two months of the 2024-25 NBA campaign but still produced career-high averages of 25.9 points and 7.5 rebounds as well as 4.6 assists.

Banchero could boost his salary by being named NBA Most Valuable Player or Defensive Player of the Year next season, or being named to an All-NBA or All-Defensive lineup.

Banchero would also have a player option for the 2030-31 season, according to the reports.

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The Magic will have their core of talent — Banchero, Franz Wagner and Jalen Suggs — under contract for the next five seasons.

Orlando also has guard Desmond Bane, obtained in a trade with Memphis last month, signed through the 2028-29 campaign.

Banchero, the 2023 NBA Rookie of the Year, has averaged 22.4 points, 7.1 rebounds and 4.6 assists a game over three seasons with the Magic.

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