The Magic solidified their future, signing Paolo Banchero to a max deal with a rare player option, signaling full belief in his stardom.

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 has a history of drafting guys who can’t wait to be out of there, but that doesn’t seem to be the case with former Duke star Paolo Banchero as Banchero has signed an extension. And it’s a pretty good extension, too: he’s signed a five-year maximum rookie extension that could end up being worth as much as $287 million.