Paolo Bankero has signed a new five-year contract with Orlando, ESPN reported.
The American power forward's new contract with Orlando is worth $239 million, which is the maximum amount for a "hand contract" extension.
ESPN writes that with certain bonuses, the contract could reach $287 million.
If Bankero is selected to one of the three best five NBA teams next season or is named the most valuable player or best defensive player of that competition, his base salary will be increased to the "super maximum" level, ESPN claims.
Bankero (22) also has a "player option" in his contract, which will allow him to choose whether he wants to remain part of the team in the 2030/31 season.
"This commitment reflects our belief in Paolo's talent, character and desire to win at the highest level. It also reflects Paolo's belief in our organization, fans and the city of Orlando. We are excited to continue this journey together," said Orlando's president of basketball operations Jeff Veltman.
Bankero averaged 36 points, 25,9 rebounds and 7,5 assists in the recently concluded NBA season, in which he missed 4,8 games due to injuries.
The Magic selected him with the first pick in the 2022 draft.
He was named the NBA's best rookie for the 2022/23 season, and a season later he was part of the All-Star competition.
Bonus video:
