The Magic rookie has impressed during his first NBA campaign, cracking the 20-point mark 29 times thus far. Boardroom breaks down his current contract.
There’s a reason why this year’s NBA Rookie of the Year is a one-man race and it’s none other than Orlando’s No. 1 overall pick, Paolo Banchero. The 20-year-old leads all rookies in scoring at 19.7 points per game and almost became the first rookie since Blake Griffin in 2010-11 to play in the NBA All-Star Game, finishing seventh among frontcourt players in the East.
As for his team, the Magic are currently 25-36, which is obviously far from spectacular. But they’re in the middle of a rebuild with the fourth-youngest team in the Association, and there’s reason for optimism with Banchero and Franz Wagner leading the way towards a bright future in Orlando.
“I think he has a chance to be one of the best. I would bet everything that I think he’s going to be one of those dudes that we talk about for a long time,” Mike Miller said about Banchero on Boardroom’s Out Of Office. The former two-time NBA champ-turned-sports-agent represents Banchero while serving as president of LIFT Sports Management.
Let’s take a look at Paolo’s contract particulars amid his rookie deal — and what might be owed when he’s extension eligible in 2025.
Paolo Banchero Contract Details & Salary
Total value: $50,158,769
Average annual value: $12,539,692
2022-23 salary: $11,055,120
At the AAV hit of just over $12.5 million, Banchero produces a true value score — courtesy of Spotrac’s NBA True Value Rankings, in which a mathematical comparison of a player’s current salaries against his cumulative “production points” is used to determine the score — of 98.65, good enough for No. 7 among all forwards in the league. Some of the names in front of him? Jayson Tatum of the Celtics, Giannis Antetokounmpo of the Bucks, the Pelicans’ Zion Williamson, and Sacramento’s Domantas Sabonis, all of whom were named 2023 All-Stars.
Rookie Extension Eligible (25% CAP MAX)
- Years: 5
- Total: $215M (2026-30)
- Year 1 Salary: $37.07 million
These numbers will likely increase with the evolving salary cap.
Figures Without Rookie Extension
- 2025-26: $15,334,769 (club option)
- 2026 RFA Qualifying Offer: $19,935,200
- 2024-25 Club Option Deadline: 10/31/23
- 2025-26 Club Option Deadline: 10/31/24
Read More About the Magic:
How Mike Miller Signed Paolo Banchero to LIFT
Mike Miller is a decorated NBA veteran who now represents up-and-comer Paolo Banchero as an agent for LIFT Sports Management….
How Mike Miller Went from NBA Champion to NBA Agent
Mike Miller, a core member of the “Heatles” and President of LIFT Sports Management, sat down with Rich Kleiman for the most recent episode of “Out of Office.” The two discuss Miller’s 17-year NBA…