Magic sign No. 1 overall pick Paolo Banchero

The Magic have officially signed Paolo Banchero, the first pick of last week’s NBA draft, the team announced in a press release.

In 39 games as a freshman for Duke this past season, the 6-foot-10 Banchero averaged 17.2 PPG, 7.8 RPG, 3.2 APG and 1.1 SPG on .478/.338/.729 shooting. He helped lead the Blue Devils to a 32-7 record and a No. 2 seed in the NCAA tournament, where they ultimately fell to long-time rival North Carolina in the Final Four.

Banchero earned numerous accolades for his stellar season, including Consensus All-America Second Team, All-ACC First Team, and ACC Rookie of the Year, among others.

As the first overall pick, Banchero will earn $11,055,120 as a rookie in 2022-23 if he signs for the maximum allowable 120% of the rookie scale (nearly always happens). He’s eligible to make $50,158,769 over the four-year contract, assuming the Magic pick up his team options in years three and four, which is basically a lock given his draft status.

Banchero is expected to make his Orlando debut in the Las Vegas Summer League on July 7.