The Orlando Magic didn’t just make a splash this offseason. They detonated expectations! After shocking free agency watchers by landing Desmond Bane in a blockbuster trade, the focus quickly turned to what that meant for Paolo Banchero’s future. Now, there’s no doubt: Banchero isn’t going anywhere. The All-Star forward has signed a five-year rookie maximum extension with Orlando, a deal worth $239 million right now but could reach up to $287 million. The deal also has a player option for Banchero in 2030-31. And in the process, he quietly made franchise history — becoming the first player since Luka Dončić and Trae Young in 2021 to sign a rookie max with a player option.

Instantly, after Shams Charania broke the news, Paolo Banchero was quick to respond. He re-shared the ESPN reporter’s post on his Stories with the added ‘locked’ emojis and heart emojis. The subtext wasn’t hard to decode: this is his team now. And that wasn’t always guaranteed.

Orlando started the offseason with a dramatic shocker, trading Cole Anthony and Kentavious Caldwell-Pope along with multiple first-round picks and swap rights to the Memphis Grizzlies for Desmond Bane. For a minute, it was hard to imagine the team without KCP. For a minute, the future felt uncertain. The roster had changed dramatically. But Banchero’s extension re-establishes the core and sends a clear message that this isn’t a rebuild.

More importantly, this trade elevated Paolo and Franz Wagner to the franchise cornerstones and signalled that the team is out of its rebuild era. The key was keeping Banchero and the Wagners. Now the forward has 287 million reasons to stay. “This commitment reflects our belief in Paolo’s talent, character, and desire to win at the highest level,” Magic president of basketball operations Jeff Weltman said in a statement after Banchero’s extension.

Orlando’s risk becomes Paolo Banchero’s reward

Since the Orlando Magic used their first-round pick of the 2022 draft on Paolo Banchero, the team has had two playoff appearances and a major turnaround. Over time, they built around and safe to say, they’ve reached their goals. If there was any doubt that losing Kentavious Caldwell-Pope and Anthony would make Banchero falter in Orlando, he’s shown he wants to make the current roster work. As even Weltman stated, “It also reflects Paolo’s belief in our organization, our fans, and the city of Orlando. We are excited to continue this journey together.”

There are some perks to Paolo’s belief, too. He gets bonuses on top of his base salary if he makes either an All-NBA team or earns MVP or Defensive Player of the Year honors next season. Hence, the deal eventually grows from $239 million to $287 million by the time those five years are up.

Not difficult if you’re Banchero. The 2023 NBA RoTY made his first All-Star selection in 2024. Although he missed 34 games at the start of the 2024-25 season because of a torn oblique, he had a career season averaging 25.9 points and 7.5 rebounds to go with 4.8 assists. He joined an elite Orlando club including Tracy McGrady and Shaquille O’Neal as the only Magic players to average more than 25 points in a season.

Since the former defending champions, the Celtics swept them in the playoffs, Magic has taken an aggressive approach for 2025-26. Along with Bane, they also signed veteran guard Tyus Jones to add experience to the team.

Desmond Bane, who is under contract through the 2028-29 season, now makes up the core of the Orlando franchise with Banchero, Wagner, and Jalen Suggs (the latter two are also under contract for the next five years). With these pieces, Orlando has built a legitimate core in the Eastern Conference. Banchero is the face of it. And with a massive contract, a retooled roster, and a franchise that’s all-in, he’s not just locked in — he’s leading.