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

Paolo Banchero has agreed to the richest contract in Orlando Magic history, a five-year extension that is worth $239 million and could reach about $287 million should he become eligible for a supermax deal, a person with knowledge of the agreement said Monday.