Magic protected future of Paolo Banchero with max rookie extension,
Magic forward Paolo Banchero agreed to sign a five-year, $239 million novice max extension on Monday, a league source told the Orlando Guard.
The agreement could be worth as much as $287 million, ESPN initially reported, since Banchero is eligible to make 30% of the team’s salary cap must he get voted to an All-NBA group (or if he wins NBA MVP or the NBA Defensive Player of the Year award) this upcoming season.
The contract extension, which was formally revealed by the team Monday night after he signed it, will begin with the 2026-27 season and will run through the 2030-31 sason. The offer also consists of a player alternative for Banchero ahead of the last season of the offer, a league source said.
Counting this upcoming season, Orlando’s core of Banchero, Franz Wagner and Jalen Suggs all are now under agreement for the next five years. In addition, the just recently gotten Desmond Bane is under agreement for the next 4 years.
“We are enjoyed keep Paolo in a Magic uniform for several years to come,” Magic president of basketball operations Jeff Weltman stated in a statement. “At simply 22, he has won NBA Rookie of the Year, been called an NBA All-Star and is extensively regarded as one of our league’s brightest young stars.
“This dedication shows our belief in Paolo’s skill, character and desire to win at the highest level,” he added. “It likewise shows Paolo’s belief in our company, our fans and the city of Orlando. We are delighted to continue this journey together.”
The 2022 No. 1 draft choice already had his 3rd- and fourth-year team options got by Orlando, and Banchero entered this summer eligible for a rookie-scale extension.
Although the extension was concurred upon Monday, rookie-scale extensions can be signed only between 12:01 p.m. on the last day of the free agency moratorium period– Sunday– and through 6 p.m. on the day prior to the first day of the regular season (late October).
But there was no point in waiting any longer to secure Banchero’s future in Orlando.
The face of the franchise, Banchero– who will turn 23 in November– currently has the third-most 40-plus point games in Magic history with six in just 3 seasons.
This past season, nevertheless, was his toughest test. The 6-foot-10 forward played the least games of his young career (46) because of a torn right stomach muscle injury suffered in late October that required him to miss two-plus months.
Still, he and Wagner– who likewise signed a novice max extension with the franchise last summer season– ended up being the very first pair of Magic teammates to each typical 20-plus points in a single season given that Shaquille O’Neal and Penny Hardaway in 1995-96 and simply the 2nd duo in franchise history.
As Banchero worked previous his in-season injury, he returned to All-Star form.
From Feb. 25-April 8, he scored 20-plus points in 20 consecutive games, which is the longest streak of his career and the sixth-longest streak in franchise history.
Banchero and Wagner don’t wish to merely tape outstanding scoring marks. They want to assist Orlando win its very first playoff series in 15 years and make a postseason run last seen during the days of Dwight Howard.
Doing so won’t be easy. That’s why the Magic have altered their roster this summertime by acquiring Bane, signing veteran guard Tyus Jones in totally free company, drafting first- and second-round choices Jase Richardson and Noah Penda and reviving reserve center Moe Wagner on a new deal.
These relocations, together with Banchero’s extension and the extensions of Wagner and Suggs a summer back, come at an expense.
With Richardson, Penda, Jones and Wagner under contract, the franchise has actually 14 players signed to basic contracts.
Due to the fact that the Magic are hard-capped at the very first apron threshold under the league’s relatively brand-new cumulative bargaining agreement ($195,945,000) following the Bane trade, Orlando likely won’t have enough financial space to fill the 15th basic roster spot this summer season (unless the Magic made a trade to free up salary).
The Magic still have a pair of two-way contracts available to help fill roster depth needs for the upcoming season.
Extending Banchero essentially caps a substantial summer season for the future of the franchise. It was, possibly, a no-brainer for both sides.
“I enjoy it here,” Banchero said about Orlando in early May. “It’s a place that I love spending time, my family likes spending quality time here, and I couldn’t be more delighted to be a part of the Orlando Magic.
“I anticipate investing a lot more years here.”
He moved more detailed to accomplishing that objective Monday.
Jason Beede can be reached at jbeede@orlandosentinel.com!.?.! Originally Released: July 7,
2025 at 6:37 PM EDT