The franchise has had superstars such as Shaquille O’Neal, Penny Hardaway, Tracy McGrady, and Dwight Howard, but it has now found a new one.
Paolo Banchero, an American/Italian star in the National Basketball Association, just got a huge bag from the Orlando Magic.
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The former No. 1 overall pick of the 2022 NBA Draft from Duke University received a 5-year maximum rookie contract extension from the Magic. ESPN’s Shams Charania reported the news Monday as Banchero deal could reach $287 million.
Breaking: Orlando Magic star Paolo Banchero has agreed to a five-year maximum rookie contract extension that could reach $287 million, Mike Miller of LIFT Sports Management tells ESPN. Deal includes a player option; the first for a rookie max since 2021 (Luka Doncic, Trae Young). pic.twitter.com/bwnCrJbnmu
— Shams Charania (@ShamsCharania) July 7, 2025
Banchero has the highest rookie max deal since Luka Doncic and Trae Young in 2021. He was the NBA’s Rookie of the Year and made the All-Rookie Team in 2022-23 after averaging 20 points, 6.9 rebounds, and 3.7 assists per game for Orlando.
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Banchero made his first NBA All-Star Game in the 2023-24 season by posting career-highs for games played (80), minutes per game (35), field goal percentage (45.5), 3-point percentage (33.9), and assists per game (5.4).
He recorded career-highs for points (25.9) and rebounds (7.5) per game last season.
Banchero guided the Magic to the Eastern Conference playoffs in back-to-back years, regardless of getting bounced in the first round. He tallied a career-high 29.4 points, 4.2 assists, and a 44.4% three-point shooting mark in this recent postseason.
Banchero is a marquee building block for years to come in Orlando.
Stephen M. Smith is a writer for Ball Exclusives. You can follow him on X via @CoachingMSmith.
