The Orlando Magic and star forward Paolo Banchero have reached an agreement on a five-year maximum rookie contract extension that could be worth up to $287 million, ESPN's Shams C

The Orlando Magic and NBA All-Star Paolo Banchero have agreed on a maximum contract extension that could be worth as much as $287 million over five seasons, according to ESPN's Shams Charania. The deal includes a player option.

Paolo Banchero is not switching anywhere else. The Orlando Magic locked in their rookie forward with a five-year contract extension. As per ESPN, Shams Charania reports that the Magic signed him to a rookie extension that could reach $287 million.