Orlando Magic forward Paolo Banchero signed a contract extension, the team announced on Monday. ESPN first reported that Banchero reportedly agreed to a new five-year rookie maximum rookie contract worth $239 million. “We are thrilled to keep Paolo (Banchero) in a Magic uniform for years to come,” Magic president of basketball operations Jeff Weltman said. “At just 22, he has won NBA Rookie of the Year, been named an NBA All-Star and is widely regarded as one of our league’s brightest young stars. This commitment reflects our belief in Paolo’s talent, character and desire to win at the highest level. It also reflects Paolo’s belief in our organization, our fans and the city of Orlando. We are excited to continue this journey together.”The deal could reach $287 million, ESPN added. Banchero was drafted as the No. 1 overall pick in 2022 out of Duke and was currently in his last-year team option. On Sunday, the Magic announced they signed free agent Tyus Jones. The signing is one of several moves Orlando has made during the offseason. On June 15, the Magic sent Cole Anthony, Kentavious Caldwell-Pope, and several future draft picks to the Memphis Grizzlies in exchange for Desmond Bane.Jase Richardson was selected out of Michigan State as the No. 25 overall pick of this summer’s NBA draft. This is a developing story.
Orlando Magic forward Paolo Banchero signed a contract extension, the team announced on Monday.
ESPN first reported that Banchero reportedly agreed to a new five-year rookie maximum rookie contract worth $239 million.
“We are thrilled to keep Paolo (Banchero) in a Magic uniform for years to come,” Magic president of basketball operations Jeff Weltman said. “At just 22, he has won NBA Rookie of the Year, been named an NBA All-Star and is widely regarded as one of our league’s brightest young stars. This commitment reflects our belief in Paolo’s talent, character and desire to win at the highest level. It also reflects Paolo’s belief in our organization, our fans and the city of Orlando. We are excited to continue this journey together.”
The deal could reach $287 million, ESPN added.
Banchero was drafted as the No. 1 overall pick in 2022 out of Duke and was currently in his last-year team option.
On Sunday, the Magic announced they signed free agent Tyus Jones.
The signing is one of several moves Orlando has made during the offseason.
On June 15, the Magic sent Cole Anthony, Kentavious Caldwell-Pope, and several future draft picks to the Memphis Grizzlies in exchange for Desmond Bane.
Jase Richardson was selected out of Michigan State as the No. 25 overall pick of this summer’s NBA draft.
This is a developing story.