“I plan on bringing everything I have to Orlando — just a winning mindset, a work-first mindset, and just ready to get in with the guys and get to work.” These were the words of Paolo Banchero on his NBA draft night, and three years later, he delivered what he said. Today we know him as the true blood of Orlando Magic, but the journey to it was pretty hard. And while that journey does make for a great story, let’s look at another aspect of his NBA career—the financial benefits. So come, let’s explore each of them.
What is Paolo Banchero’s salary with the Magic? What’s his net worth?
Paolo Banchero is easily one of the fans’ favorite hoopers and his journey in the NBA is known, but what about his contract? Let’s break it down without all the legalese.
Banchero is locked in with the Orlando Magic on a four-year deal worth just over $50 million—all of it guaranteed. No funny business, no loopholes. That means every single dollar is his, whether he’s draining buckets or just chilling on the bench (not that he does much of that).
For the 2024-25 season, he’s making $12.16 million, and the Magic already picked up his 2025-26 option for $15.33 million—which, let’s be real, was a no-brainer. These were team options, meaning Orlando had the choice to keep him on those pre-set salaries, and of course, they said, “Yeah, we’re keeping our franchise guy.”
And a highlight of 2024? A little bonus—$50,000—thanks to the Magic advancing to the NBA Cup quarterfinals. Not exactly life-changing compared to his multi-million dollar contract, but hey, extra cash is extra cash. And it’s a reminder that even small wins can add up in the NBA.
So, in simple terms: Banchero’s bag is secure, and the Magic isn’t letting him go anywhere, anytime soon.
By the time the 2024-25 season wraps up, he would have already earned $34.8 million from his rookie deal. And so far, every season has been special:
2022-23: Rookie of the Year & All-Rookie First Teamer
2023-24: First All-Star selection and playoff debut.
But this season has been a little tough on the youngster, considering he suffered an oblique tear on October 30, 2024. Although his return was supposed to be in 4-6 weeks, Paolo missed 34 games before he stepped foot on the hardwood. And guess what happened in his first game after almost a 2 1/2 month absence? The 22-year-old promptly scored 34 points (one for each game he missed, perhaps?) against the Bucks.
Typical Banchero! With such earnings, how much would his net worth be?
According to multiple reports, Paolo’s net worth is anywhere from $2-$5 million. And while most of it comes from NBA earnings, the Duke alum does have endorsements that contribute to his growing wealth. For example, it was on Feb. 17th that the Jordan Brand released Banchero’s Heir Series PE. With a retail price of $110, the sneakers will have Banchero’s logo, making it his first player-exclusive shoe.
It’s clear that everyone sees the star power in Paolo Banchero and it won’t be long before the endorsement deals start piling up faster than we can keep track! And with such a status, it would only be fitting he lives like a “king,” right? Well, now he does. But it wasn’t always the case.
Opting for convenience over luxurious comfort, Banchero resided in a downtown condominium. But a random hang-out with Kevin Durant changed his perspective. When the veteran forward teased that Paolo “got the biggest house out there in Orlando,” and that he was “living like a king,” he quietly noted that wasn’t the case.
KD’s falling-off-a-chair kind of reaction (“What? What did you just say? What do you mean you don’t live in a house? You live in a condo?”) resonated with every one of us who would have imagined, again, in Durant’s words, “the No. 1 pick,” “the face of the franchise” would be living like it!
With such encouragement, Paolo Banchero finally set out to get a home. “My whole second year I was looking for a house and by the end of [2023] I was able to find one and move in during the summer,” he shared in an Andscape interview last month.
Banchero describes his new place as his “forever home.” It’s a peaceful sanctuary with a stunning view of Lake Blanche, which is reminiscent of his childhood in Seattle. The highlight of his house is a full 94-foot NBA regulation basketball court with his “BANCHERO COURT” logo, where he plans to spend hours honing his skills.
That said, it seems Paolo’s affinity for simplicity is still there. And his car collection is a proof of it.
Unlike Luka Doncic’s 13 cars or LeBron James’ fleet (yes, fleet!), Banchero has only two standout vehicles in his garage. His first car is a Jeep Grand Cherokee, valued at around $70,000. This versatile SUV features a 6.2-liter supercharged V8 engine, producing 707 horsepower, and is known for its off-roading capabilities.
The second, a Cadillac Escalade, is the most expensive in his collection, priced at approximately $88,000. Known for its luxury, the Escalade boasts a 6.2-liter V8 engine with 420 horsepower and offers ample space and comfort. Together, these two vehicles total a $158K collection.
While this might be a simple lifestyle compared to many NBA players, for most of us, it’s still a high-end lifestyle. And while his NBA salary is substantial, Banchero’s brand deals no doubt help him maintain a comfortable lifestyle. So, why don’t we do a quick dive into one of his biggest off-court deals?
Does Paolo Banchero have a deal with the Jordan brand? What are his endorsements?
The Seattle native’s deal with Jordan Brand had already been in place (October 2022) even before his rookie season. Young Banchero signed a multi-year deal with Jordan Brand, placing him among the biggest stars even before the NBA. The 6-foot-10 power forward finds it meaningful to join the Jordan family, as he says, “The opportunity to be a part of the Jordan family means everything to me. I grew up wearing Jordans, and to now be a part of his brand is really a dream come true.”
And that Heir Series PE? It was more than just another feather in his cap. It was personal. The unisex shoe does not just represent the Jordan Brand’s inclusive vision for basketball, but also a deeper connection for the young athlete himself. “Women athletes have always been a huge part of basketball for me: They’re the ones who taught me the game. My mom (Rhonda Smith-Banchero) played in the WNBA and in college, and she instilled in me the discipline and dedication it takes to win,” he said.
The extent of these women’s influence? “She and my grandmother have been my biggest inspirations, and without them, I wouldn’t be where I am today. To have my first Jordan Brand Player Edition honor them is special; it’s a way to show my gratitude and remind myself of the foundation they built for me. Every time I step on the court wearing these, I’m carrying their legacy with me,” Banchero elaborated.
These shoes come with the iconic Jumpman logo on one side, with Banchero’s “P5” logo on the other. The colors are also special, a reflection, or as we call it, a nod to his mother and grandmother. But, before the Nike, he had one more.
Banchero was fully making waves before the NBA, from Nike to gaming. In the world of gaming, he became the first active college player to sign an endorsement deal with 2K Sports. His inclusion in “NBA 2K22” marked a historic moment for college athletes, who had just gained the right to profit off their name, image, and likeness. He joined the “Season 5: Power Within” mode, where players could “become the hero” and reach their full potential.
However, to be able to get all the huge contracts and deals, there has to be someone else—an agent. Who is that?
When does Paolo Banchero become a free agent? Who is his NBA agent?
When it comes to representation, Banchero is backed by Mike Miller, a former NBA player and the president of LIFT Sports Management. Miller’s 17-year playing career gives him a deep understanding of what it takes to succeed at the highest level. He was named Rookie of the Year in 2001, won two championships with the Miami Heat, and even secured an Olympic gold medal.
Miller’s approach to the business is simple: “I just wanted to hoop,” he says—a mindset that drove him to establish LIFT Sports Management, where he now represents elite athletes like Ja Morant, PJ Washington, Kyler Murray, and even WNBA legend Sheryl Swoopes. His agency has also secured partnerships with major brands, including Nike, Adidas, Puma, Meta, Disney, and Reebok.
With Paolo Banchero set to become a restricted free agent (RFA) after his rookie contract ends in the 2025-26 NBA season, at which point he’ll be 23 years old, Miller’s role will definitely be more prominent. As an RFA, he can explore offers from other teams, but the Orlando Magic will have the right to match any contract he receives.
For Banchero, this partnership will be key as he navigates his NBA career and continues his rise as one of the league’s brightest young stars.
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