Paolo Banchero has solidified his status as a cornerstone of the Orlando Magic.

The Orlando Magic star agreed to a five-year, $239 million maximum rookie contract extension that could reach $287 million with incentives, CBS Sports reported.

According to the terms of the deal, Banchero’s contract includes triggers such as making an All-NBA team, winning league MVP, or being named the Defensive Player of the Year. The deal also includes a player option; the first for a rookie max since Luka Doncic and Trae Young signed extensions in 2021.

Jeff Weltman, Magic president of basketball operations, said in a statement that the team’s commitment to winning is reflected in Banchero’s new deal.

"This commitment reflects our belief in Paolo's talent, character, and desire to win at the highest level," Magic president of basketball operations Jeff Weltman said in a statement. "It also reflects Paolo's belief in our organization, our fans, and the city of Orlando. We are excited to continue this journey together."

Since Banchero arrived in Orlando, the franchise has made the playoffs for the last two seasons. Before suffering an oblique injury, Banchero was having his best season as a pro, averaging 25.9 points and 7.5 rebounds to go with 4.8 assists.

Along with Banchero, Franz Wagner, and Jalen Suggs are under contract for the next five years.  Sharp-shooting Desmond Bane, who was acquired in an offseason trade, is under contract through the 2028-29 season.