Another young NBA star just got paid.
The Orlando Magic have agreed to sign forward Paolo Banchero to a five-year maximum rookie contract extension that could reach $287 million on incentives, a person with direct knowledge of the matter confirmed to USA TODAY Sports.
The person spoke under the condition of anonymity because they were not authorized to publicly discuss terms of the deal.
ESPN was first to report the news.
Banchero is coming off a season in which he was sidelined for much of the first half with a torn right oblique. Still, when he was on the court, he shined, averaging career bests in points (25.9) and rebounds (7.5) and adding 4.8 assists per game.
The first overall pick in the 2022 draft, Banchero, 22, has refined his scoring portfolio and is lethal at all three levels; his mid-range game took a step up, as did his footwork in the low block.
Banchero is the young leader of a Magic team whose identity has been on defense, though a trade to acquire former Grizzlies guard Desmond Bane should ease the burden on Banchero to carry the offense. Orlando, which finished 41-41 in the Eastern Conference last season, good enough for seventh place, now has a solid young core of Banchero, forward Franz Wagner and point guard Jalen Suggs to pair with Bane, 27.
A 2024 All-Star, Banchero has led the Magic to consecutive postseason appearances and consecutive Southeast Division wins.
This past season, Orlando fell to the Boston Celtics in the first round of the NBA playoffs in five games.
This article originally appeared on USA TODAY: Paolo Banchero and Magic agree to five-year contract extension
