ORLANDO, Fla. – Magic star Paolo Banchero will be staying in Orlando for the foreseeable future after signing a five-year extension with the team Monday evening.
It’s a maximum rookie contract extension that could be worth up to $287 million. ESPN first reported the deal before a league source confirmed it to News 6.
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Banchero, the NBA’s Rookie of the Year following the 2022-23 season and an All-Star following the 2023-24 campaign, is one of the young centerpieces on a Magic team that has reached long-term deals with other young stars Franz Wagner and Jalen Suggs.
The 22-year-old Banchero has averaged more than 22 points and 7 rebounds per game through his first three seasons in the league.