Paul Banchero has completed many tasks since joining the Orlando Magic

Paolo Banchero has completed many tasks since joining the Orlando Magic. Winner of the Rookie of the Year, selected as an All-Star, helping the team enter the playoffs twice.

And now, the Magic bets will have more—more.

Banchero has agreed to the richest contract in Magic history, a five-year extension worth $239 million that could reach about $287 million if he qualifies for a super-maximum contract.

"We are excited to have Paul (Banchero) wear the Magic's jersey in the next few years," said Jeff Weltman, president of basketball operations. “At just 22 years old, he won NBA Rookie of the Year, was named NBA All-Star and widely regarded as one of the most dazzling young stars in our league. 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, our fans and the City of Orlando. We are excited to continue this journey together.