T he Orlando Magic and forward Paolo Banchero have agreed to a five-year, maximum-salary contract extension worth approximately $239 million that, once signed, will be the most expensive contract in franchise history, a league source confirmed to The Athletic.

Paolo Banchero has agreed to the richest contract in Orlando Magic history. According to a person with knowledge of the agreement, his five-year extension is worth $239 million and could reach about $287 million should he become eligible for a supermax deal.

Orlando Magic 22-year-old star forward Paolo Banchero has inked a contract extension set to keep him with the team through 2030, and now hopes to make history in leading the team to their first title.