{"id":154466,"date":"2025-07-07T23:38:16","date_gmt":"2025-07-07T23:38:16","guid":{"rendered":"https:\/\/www.rawchili.com\/nba\/154466\/"},"modified":"2025-07-07T23:38:16","modified_gmt":"2025-07-07T23:38:16","slug":"orlando-magic-star-paolo-banchero-agrees-eye-watering-contract-extension-that-could-become-third-richest-ever","status":"publish","type":"post","link":"https:\/\/www.rawchili.com\/nba\/154466\/","title":{"rendered":"Orlando Magic star Paolo Banchero agrees eye-watering contract extension that could become third richest ever"},"content":{"rendered":"

By OLIVER SALT<\/a> and ASSOCIATED PRESS <\/p>\n

Published: 19:23 EDT, 7 July 2025 | Updated: 19:27 EDT, 7 July 2025 <\/p>\n

Orlando Magic<\/a>\u00a0power forward Paolo Banchero has agreed a sensational five-year, $239million maximum rookie contract extension that could one day reach $287m, according to reports.<\/p>\n

Banchero has checked a lot of boxes since joining Orlando in 2021; winning\u00a0rookie of the year, being named an All-Star and helping the team to the playoffs twice.<\/p>\n

And now the Magic are betting on there being more – much more.<\/p>\n

The 22-year-old has agreed to the richest contract in franchise history, a five-year extension with the potential to become the third most-expensive in history should he gain eligibility for a supermax deal, a person with knowledge of the agreement said Monday.<\/p>\n

ESPN, which first reported the agreement, claims the deal also includes a player option for the final year – the first time\u00a0a rookie max extension has had a player option since 2021, when Luka Doncic of the Dallas Mavericks<\/a> and Trae Young of the Atlanta Hawks<\/a> completed their rookie max contracts.<\/p>\n

The agreement means the Magic now have four players – Banchero, Franz Wagner, Jalen Suggs and the newly acquired Desmond Bane – under contract for the next four seasons. And in the cases of the former trio, the terms extend out at least five seasons.<\/p>\n

\"Magic <\/p>\n

Magic star Paolo Banchero has agreed a five-year, $239m maximum rookie contract extension<\/p>\n

\"Banchero, <\/p>\n

Banchero, who won Rookie of the Year in 2022-23, could see his deal eventually reach $287m<\/p>\n

Banchero was the rookie of the year in 2022-23, living up to his billing after being the No. 1 pick in the 2022 NBA\u00a0draft. He was an All-Star in his second season and was well on his way to that again last season before an early-season oblique injury.<\/p>\n

He finished the season averaging 25.9 points and 7.5 rebounds, both career highs, and led the Magic to the playoffs for a second consecutive year.<\/p>\n

He’ll play the final year of his rookie deal this season, at about $15.3m. His salary – depending on whether the supermax provisions are met or not – would then jump to either around $41m or $49m for 2026-27, when the extension kicks in.<\/p>\n

The contract tops the $224m extension that Wagner signed last summer to stay with the Magic. That was a team record at the time, though it was expected then that Banchero’s next deal with the Magic would surpass it.<\/p>\n

Boston Celtics hero Jayson Tatum currently holds the record for the richest NBA deal in history, having penned a five-year, $315m extension with the team in 2024.<\/p>\n

His Celtics teammate Jaylen Brown also agreed a five-year, $304m supermax extension with Boston in the summer of 2023.<\/p>\n

Shai Gilgeous-Alexander, who helped the Oklahoma City Thunder win the NBA Championship last month, recently put pen to paper on a four-year, $285m deal – which is the third most expensive NBA deal ever.<\/p>\n

Should Banchero go on to meet all the necessary requirements, his maximum deal could one day become the third richest in history.<\/p>\n

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