Paolo Banchero has agreed to the richest contract in Orlando Magic history. According to a person with knowledge of the agreement, his five-year extension is worth $239 million and could reach about $287 million should he become eligible for a supermax deal.

T he Orlando Magic and forward Paolo Banchero have agreed to a five-year, maximum-salary contract extension worth approximately $239 million that, once signed, will be the most expensive contract in franchise history, a league source confirmed to The Athletic.

Orlando Magic forward Paolo Banchero has agreed to a five-year maximum rookie contract extension that “could reach $287 million,” according to ESPN’s Shams Charania. It is the first rookie max since 2021.