Paolo Banchero and the Orlando Magic are sticking together for the long haul. The Italian American star has agreed to a five-year, $239 million max contract extension that will kick in starting with the 2026–27 season. It’s the largest deal ever signed in franchise history.

The new contract includes a player option for the 2030–31 season and could rise to as much as $287 million if Banchero hits certain individual milestones. The supermax triggers if Banchero makes an All-NBA Team or wins either MVP or Defensive Player of the Year in the upcoming season.

At just 22 years old, he continues to solidify his place as the face of the franchise, with the Magic clearly building a competitive roster around their young cornerstone. Selected first overall in the 2022 NBA Draft, Banchero made an immediate impact, helping lead Orlando to back-to-back playoff appearances and quickly rewarding the faith the team placed in him.

Despite missing 34 games early in the 2024–25 season due to an oblique injury, he finished the year with All-Star caliber stats: 25.9 points, 7.5 rebounds, and 4.8 assists per game. After the All-Star break, those numbers climbed even higher to 29 points, 7.8 rebounds, and 4.5 assists a night.

In the playoffs, Banchero made franchise history by scoring at least 25 points in seven straight games—tying a record shared with the greatest players to ever wear a Magic uniform.

With last season’s performance, Banchero became just the eighth player in NBA history to average at least 25 points, 7 rebounds, and 4 assists in a season at age 22 or younger.

Before him, only Orlando legends like Tracy McGrady and Shaquille O’Neal had averaged over 25 points in a single season. In just three years, the Seattle native has already racked up 4,432 career points—third most in franchise history.

Following his Rookie of the Year award in 2023 and first All-Star selection in 2024, Banchero’s trajectory is clear: to become one of the league’s elite and bring the Magic back to prominence in the Eastern Conference.