Grading Paolo Banchero’s $239 million Magic contract extension

The former Duke standout and Rookie of the Year missed 34 games with a torn oblique but returned late in the year to help power Orlando’s playoff push.

The deal also has a player option for Banchero in 2030-31 — the first time a rookie max extension has had a player option since 2021, when Luka Doncic (Dallas Mavericks) and Trae Young (Atlanta Hawks) completed their rookie max contracts. Either way, the Magic have made one thing clear: Banchero is the centerpiece of their future, and they’re locked in for the long haul.

Grading Paolo Banchero’s max extension with the Magic

Paolo Banchero’s NBA journey has been a blend of rapid ascension, adversity, and evolution. From winning Rookie of the Year to becoming a playoff-tested leader and now the recipient of one of the richest rookie extensions in NBA history, his path reflects a rare trajectory.

Banchero is no longer just the promising No. 1 pick; he’s the face of a franchise and a cornerstone for a team aiming to rise in the Eastern Conference hierarchy. If health stays on his side, the league could very well be watching the early chapters of an MVP-caliber career unfold in Orlando.

With a five-year, $239 million extension signed in July 2025 – potentially reaching $287 million if he earns All-NBA honors, like All-NBA team, or earns MVP or Defensive Player of the Year – Banchero is officially the face of the Orlando Magic for the long haul.

Entering his fourth season in 2025–26, he will be surrounded by a revamped, talented roster featuring Franz Wagner, Jalen Suggs, and newly acquired sharpshooter Desmond Bane. The Magic are banking on Banchero not just to be great, but to lead them deep into the playoffs and beyond.

Grade A

From 1st pick to the Max: the evolution of Paolo Banchero 

When the Magic selected Banchero with the No. 1 overall pick in the 2022 NBA Draft, there was immediate buzz surrounding the 6-foot-10 forward out of Duke. Banchero entered the league with the body of an NBA veteran, the vision of a point forward, and the swagger of a future All-Star. Over three seasons, he not only met expectations but also redefined them, transforming from a talented rookie into a franchise centerpiece worthy of a $239 million rookie max extension in 2025.

The 2024–25 campaign marked Banchero’s true breakout into NBA superstardom. Despite an oblique injury that sidelined him for over 34 games, his production when healthy was elite. He was setting high averages of 25.9 points and 7.5 rebounds to go with 4.8 assists. He returned in February post-injury and immediately boosted Orlando’s offense. The Magic finished 41–41, good for the 7th seed, and faced the Celtics in the first round. While Orlando lost the series 1–4, Banchero was spectacular, averaging 29.4 points, 8.4 rebounds, and 4.2 assists, and routinely breaking down one of the league’s best defenses.

Beyond the stats, Paolo emerged as a vocal leader and community figure. He embraced Orlando, became a mentor to younger players, and handled pressure with a calm, mature demeanor. Whether facing elite defenders or late-game decisions, he played with high IQ and unshakeable confidence.

Coaches lauded his work ethic, film study, and self-criticism. Teammates pointed to him as the team’s emotional and strategic anchor. The season solidified his status: not just a star, but the face of the franchise. His extension followed soon after.

Magic’s 2025 offseason moves: trade, free agency & draft

Banchero began drawing double- and triple-teams consistently, forcing Orlando to rethink its spacing. That led directly to the team trading for Bane in the 2025 offseason. The Magic acquired the sharpshooter from Memphis, offering up KCP, Cole Anthony, and four future first-round picks – including multiple unprotected selections.

Meanwhile, they also re-signed forward/center Moe Wagner on a one-year, $5 million deal. The move, made by the Magic during free agency, keeps one of the team’s most productive and energetic reserves as they continue building toward playoff contention. Free agent guard Tyus Jones agreed to a one-year, $7 million deal.

Even after making the blockbuster trade for Bane, they drafted Jase Richardson at No. 25 from Michigan State, their only first-round pick. The pick is significant not only because of his talent, but because his father, Jason, played for the Magic during his NBA career.

They also added Noah Penda from a trade with the Celtics on draft day. At 6-foot-8, Penda has the size and length to play either forward spot. He is comfortable posting up and either creating his shot or creating open looks for teammates who are either cutting or spotting up from 3. Defensively, Penda can recover quickly and block shots at the rim as a quality help defender.