Magic and Paolo Banchero agree on a 5-year extension

Paolo Banchero has examined a lot of boxes because signing up with the Orlando Magic. Won rookie of the year, been an All-Star, helped the team to the playoffs twice.And now, the Magic are betting on there being more– much more.Advertisement Banchero has signed the wealthiest contract in Magic history, the group announced Monday night. The five-year extension is worth $239 million and could reach about$287 million ought to he become eligible for a supermax deal, a person with understanding of the contract said.The person spoke with The Associated Press on condition of anonymity because the

terms were not exposed by either Banchero or the Magic. ESPN, which initially reported the arrangement, stated it likewise included a player alternative for the last year.”We are enjoyed keep Paolo in a Magic uniform for years to come,”Magic president of basketball operations Jeff Weltman said.” At just 22, he has actually won NBA rookie of the year, been named an NBA All-Star and is extensively considered one of our league’s brightest young stars. This dedication reflects our belief in Paolo’s talent, character and desire to win at the greatest level. It also shows Paolo’s belief in our organization, our fans and the city of Orlando. We are thrilled to continue this journey together.”The agreement means the Magic have 4 players– Banchero, Franz Wagner, Jalen Suggs and the recently acquired Desmond Bane– under agreement for the next 4 seasons. And whens it comes to Banchero, Wagner and Suggs, the terms extend out a minimum of five seasons.Advertisement Banchero was the novice of the year in 2022-23, measuring up to his billing after being the No. 1 choice in the 2022 NBA draft

. He was an All-Star in his 2nd season and was well on his way to that again last season before an early-season oblique injury.He finished the season balancing 25.9 points and 7.5 rebounds, both profession highs, and led the Magic to the playoffs for a 2nd consecutive year.He’ll play the final year of his rookie deal this season, at about $15.3 million. His wage– depending upon whether the supermax provisions are met or not– would then leap to either around$41 million or$ 49 million for 2026-27, when the extension kicks in.The agreement tops the$224 million extension that Wagner signed last summertime to stick with the Magic. That was a group record at the time, though it was anticipated then that Banchero’s next handle the Magic would exceed it

. ___ AP NBA: https://apnews.com/hub/NBA