The deal could reach a staggering $287 million, the richest deal in franchise history. The base value of the contract is $239 million, but Banchero can unlock additional incentives—pushing the total to $287 million—if he earns All-NBA, All-Defensive honors, or wins MVP or Defensive Player of the Year next season.

This extension, which begins with the 2026-27 season and runs through 2030-31, includes a player option for the final year—a rare feature for rookie max deals, last seen in contracts for Luka Doncic and Trae Young in 2021.

Banchero’s Rise and Impact in Orlando

Since being drafted first overall in 2022, Banchero has rapidly become the face of the Magic. He was named Rookie of the Year, earned an All-Star nod in his second season, and posted career highs in 2024-25 with 25.9 points, 7.5 rebounds, and 4.8 assists per game.

Despite missing over a month with an oblique injury, Banchero returned to lead Orlando to a second straight playoff appearance, averaging 29 points and 8 rebounds in a hard-fought first-round series against Boston.

Magic’s Ambitious Offseason: Building a Contender

Orlando’s commitment to Banchero is part of a broader strategy to contend in the Eastern Conference. The team recently acquired sharpshooter Desmond Bane from Memphis in a blockbuster trade, sending out Cole Anthony, Kentavious Caldwell-Pope, and multiple first-round picks.

Veteran point guard Tyus Jones was also signed to bolster the backcourt, while key young talents Franz Wagner and Jalen Suggs are now under contract through at least 2029.

With one of the NBA’s best defensive ratings last season and a deep, balanced roster, the Magic are poised to challenge at the top of the East. Banchero’s extension signals the franchise’s intent to build around its young core and maximize a championship window that is now wide open.

What’s Next for Banchero and the Magic

Banchero’s new deal not only rewards his rapid ascent but also places him among the NBA’s elite earners. The inclusion of a player option and performance-based escalators reflects both the team’s belief in his superstar trajectory and Banchero’s leverage as a foundational piece.

As the Magic continue to develop their young roster and integrate new acquisitions, all eyes will be on Banchero to lead Orlando’s push for deeper playoff runs and, potentially, a championship in the coming years.