Paolo Banchero’s New Rookie Contract Extension Could Reach A Record-Setting $287 Million

ByJoey Heldon July 10, 2025inArticles›Sports News

Being the first overall pick in any NBA Draft comes with a hefty set of expectations. Sure, some of them turn into legends and surefire Hall of Famers like LeBron James , Anthony Davis , or Hakeem Olajuwon . But for every superstar, you’ll have guys like Kwame Brown , Andrea Bargnani , or Anthony Bennett—occasional flashes of brilliance, but never reaching an All-NBA level.

For now, it looks like Orlando Magic forward Paolo Banchero is heading more toward the former trajectory than the latter. Banchero was the first overall pick of the 2022 draft. He won Rookie of the Year in the 2022-23 season, made the All-Star team during the 2023-24 campaign, and has gotten Orlando to the playoffs the past two seasons.

Now, the Magic are committing to him for the long haul. They’ve agreed to a five-year, $239 million maximum rookie contract extension with Banchero. If he makes an All-NBA team or wins MVP or Defensive Player of the Year next season, that contract would increase to $287 million over five years. Should that happen, Banchero will have the richest rookie contract extension in NBA history.

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Patrick Smith/Getty Images

The final year of the extension includes a player option, but the Magic are set for the foreseeable future. The team’s main trio of Banchero, Franz Wagner, and Jalen Suggs are each locked into contracts for the next five seasons. Desmond Bane, who they acquired this offseason in a trade with the Memphis Grizzlies, is under contract through the 2028-29 campaign.

All of this only adds to the expectations for Banchero. He missed 34 games this past season with an oblique injury, but he set career highs in points per game (25.9) and rebounds per game (7.5) as the Magic earned the No. 7 seed. He’s also just the third Magic player to average at least 25 points in a season, alongside Shaquille O’Neal and Tracy McGrady .

The Eastern Conference should be wide open this upcoming season. The Pacers and Celtics each lost their top players, the Knicks fired their coach despite their best finish in 25 years, and the Cavs and Pistons are both fairly unproven, despite strong seasons last year.

Orlando is unproven, too, but another year of this core together should bolster their chances of advancing further in the postseason. To this point of his career, Banchero has played like a No. 1 pick. Now, the Magic hope he can deliver the first championship to Orlando.

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Anthony Davis Just Signed The Largest NBA Extension Ever, Next Season He’ll Make 70% Of Michael Jordan’s NBA Career Earnings

ByJoey Heldon August 4, 2023inArticles›Sports News

  • Anthony Davis
  • LeBron James
  • Michael Jordan
  • Rich Paul
  • Taylor Swift

Anthony Davis joined the Los Angeles Lakers before the start of the 2019-20 NBA season, the result of a trade with the New Orleans Pelicans. That season was suspended for more than four months because of the Covid-19 pandemic. When play finally resumed, Davis, LeBron James , and the rest of the Lakers ultimately won the championship.

The Lakers haven’t been back to the NBA Finals since, but after a strong end to this past season, they’re feeling good about their chances. That means signing one of their stars to a massive contract extension.

Davis and the Lakers agreed to a three-year, $186 million deal to keep Davis in L.A. through the 2027-28 season. The team will now pay Davis $270 million over the next five years. Davis will average $62 million per season in the new deal, which is the largest annual contract extension the league has ever seen.

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Chris Graythen/Getty Images

Davis became eligible to sign his extension on Friday and didn’t wait long to make it happen. He opted for financial security over the potential to make even more money by taking shorter deals — something his teammate has done with great success .

Despite the franchise’s championship in 2020, things weren’t nearly as rosy the next two years. The Lakers barely made the playoffs as the No. 7 seed in the 2020-21 season, losing in six games in the first round to the Phoenix Suns. The following year was even worse, as the Lakers missed the postseason entirely. Davis sat out more than half of his team’s games due to various injuries, appearing in just 76 of a possible 154 contests.

The deal is also big news for Rich Paul . He represents both Davis and James (who’s signed through next year and then has a player option in 2024-25) and has secured close to $370 million for the two L.A. stars. The NBA has a rule that caps agent fees at 4% for veteran players, so Paul will make about $14.8 million simply from these two contracts alone. His overall client roster is extensive — his players will earn a collective $500 million this upcoming season.

The Lakers are investing in Davis for the long term. Now, his goal is to help the franchise add another championship banner (or several) to its rafters.

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