The Orlando Magic signed star forward Paolo Banchero to a five-year, maximum rookie extension on Monday, keeping him in Orlando until the 2030 season. This marks the second rookie max contract on the roster, joining Franz Wagner.
The extension should calm the nerves of Magic fans who thought Banchero would leave after his rookie deal, mirroring Shaquille O’Neal’s signing with the Lakers after his rookie deal. The signing leaves O’Neal as the only first overall pick to leave their team after their rookie deal.
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In an Instagram post, Lift Sports Management, Banchero’s agency, said the future of the Magic runs through the young star.
“As the franchise unveils a new era with a reimagined identity, locking in its cornerstone was never in question. Banchero’s rise from top pick to All-Star centerpiece has redefined the trajectory in Orlando. The look may be new, but the future still runs through Paolo.”
Banchero has more than earned the extension, improving every year in his first three seasons. Despite only playing 46 games due to an oblique injury, he led the team in points, rebounds, and assists per game.
His extension comes alongside the resigning of center Moritz Wagner to a one-year, $5 million deal last Friday. Orlando’s front court depth looks to be set heading into the year.
In a press conference Monday, Jeff Weltman, Orlando’s president of basketball operations, said this is the best roster he has been a part of since arriving to the team in 2017.
“For me personally since l’ve been here, I think this roster has a chance to do some special things, more so than any other that we’ve had since I’ve been here,” Weltman said. “The nice thing about the team that I get excited about is it’s still very young and there’s still a lot of growth baked in.”
In a press conference Monday, Tyus Jones, one of the Magic’s newest acquisitions, said Orlando is a championship contender next season.
“This team has everything you need to win a championship, honestly, Jones said. “For me, they’re making my job easy, not trying to overcomplicate it. Obviously everyone knows what P can do. Everyone knows Franz continues to get better each and every year [and] took a huge step forward last year. And then Des, bringing transition scoring, 3-point shooting obviously, but playmaking as well. All of the pieces are going to flow together and I’m excited to see it all come together.”
The extension locks in the Magic’s starting roster through the 2028 season, presuming Wendell Carter Jr. is the starting center. While the roster is expensive, Orlando has a great chance to win the Eastern Conference next season and those to come if the roster can perform to their best.