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Paolo Banchero’s contract 2024: Know everything about his contract length and salary

Paolo Banchero was born in Seattle, Washington in 2002. On June 23, 2022, the Orlando Magic franchise selected him as the 1st overall pick in the NBA draft. Banchero marks as a highly well-known prospect in the NBA who will be competing in the league this season. Banchero has physical measurements of 6’10” and 250 lbs which makes him a rare case on the court. He carries an imposing build with a unique mix of size, skill and athleticism. 

Banchero showed his worth during his freshman season at Duke University and his average of 17.2 points, 7.8 rebounds and 3.2 assists per game established his place as one of the best college basketball players. His ability to play the role of a point guard, forward or center due to his multiple offensive skills including handling the ball, shooting from a distance and scoring in the area enables him to be an attractive player for the Orlando Magic. 

Hailed as one of the NBA-ready players of the 2022 draft class. Banchero is projected to contribute right off the bat as the magic aspirations of rebuilding towards the playoffs. His monster stature united with talent and prospect drew parallels with some decent NBA players such as Kevin Durant and Jayson Tatum. As the 4-year, $50.16 million contract he signed put him in the position of being the face of the Magic franchise, it is evident that Banchero is going to stay with the team for a long time. His presence in Orlando has not only attracted fans of his age group who want to play with him but also created a sense of fervour among fans who are elated with his arrival and hopeful that he would play an instrumental role in making this team relevant in the Eastern Conference.

NamePaolo Banchero
Net Worth$2 million
Age22 years (born 12 November 2002 )
BirthplaceSeattle, Washington, United States
Salary$12.5 million (for the 2023/24 NBA season)
Teams played forOrlando Magic (2022-present)
MotherRhonda Smith Banchero
FatherMario Banchero
SiblingsLio Banchero
Mia Banchero

Playing Style

Paolo Banchero is a power forward/center who plays for the Orlando Magic in the NBA. Paolo Banchero is noted for having an all-around game and versatility on the basketball court. The 6’10” Banchero has got great size skill and athleticism combination. He is quite a good ball-handler for a player of his stature and can create his shot with the dribble. Furthermore, Banchero has a reliable mid-range jumper and scores effectively in the post. Defensively, he utilizes his size and length to guard different positions and protect the rim. Banchero’s versatile set of skills and contribution to the game on both sides make him a highly desirable player who can influence the game in many areas. He combines his size, ability and athleticism in a unique style to become a highly anticipated player in the NBA.

What are Paolo Banchero’s contract details?

Paolo Banchero got a 4-year contract of $50.16 million per season which he will be in Orlando Magic. The total contract value is $50,158,769, Average annual value is $12,539,692. The contract breakdown by season is 2022-23: $11,055,120 (completed), 2023-24: $11,608,080, 2024-25: $12,160,800 (team option) and 2025-26: $15,334,769 (team option). Banchero will turn into a restricted non-renewable player giving way to 2026 when his contract is going to cease. Magic has team options in the years 2024 and 2025, so making him the highest pick in the draft will not obligate them to keep him on the team.

Paolo Banchero’s contract duration

Paolo Banchero signed a rookie deal with the Orlando Magic, valid for 4 years, the contract coming into force after the 2025 – 2026 sporting season. The initial two years are fully guaranteed. After that, the team has an option to add two more years. Banchoro’s contract will not be in force if he goes on to play for the next five seasons after the 2025-26 season as he will become a restricted free agent at the end of the agreement.

How much did Paolo Banchero get paid?

The total payroll for Banchero’s 2022-23 season is $11,608,080. He signed a 4-year rookie deal with the Orlando Magic, with a whopping contract value of $50.16 million. The two-year guarantee covers the first digits of the contract, and the final option remains exercisable at the club’s discretion. In the summer of 2025/2026, he will automatically have the right to become a restricted free agent.

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Ravi Shankar

Ravi is an avid sports enthusiast. With experience covering the NBA, NHL, and WWE, his captivating analysis and compelling storytelling set him apart. Ravi's narratives move beyond scores uncovering the essence of the gridiron and presenting captivating stories. With a deep interest in NBA, Ravi offers insightful up-to-date content that delves into the sport's intricacies and captivating stories.