The Orlando Magic have officially shed their rebuilding label.
Their bold trade for Desmond Bane signaled a franchise pivot toward win-now mode — parting with Cole Anthony, Kentavious Caldwell-Pope, and four first-round picks in the process. It wasn’t just a splash; it was a message.
Then came the follow-ups. Orlando re-signed Moe Wagner, inked Tyus Jones in free agency, and made franchise history by awarding Paolo Banchero a five-year rookie max extension worth up to $287 million — the largest contract in Magic history.
That move effectively locked in the Magic’s core of Banchero, Franz Wagner, and Jalen Suggs for the next five seasons.
At least, for now.
No one’s questioning whether Banchero is worth the investment. Through his first three seasons, he’s averaged 22.4 points, 7.1 rebounds, and shot 44.5% from the field. More importantly, he’s been the driving force behind back-to-back playoff appearances — a milestone that once felt far out of reach for the franchise.
The real question is: At what cost?
When Banchero’s extension kicks in for the 2026-27 season, Orlando’s salary cap will take a major hit. Banchero and Wagner will each make $41 million, Desmond Bane is due $39 million, and Wendell Carter Jr. is set for an $8 million raise.
That’s over $120 million tied up in four players.
The Magic have a lot of money invested in a core with a lot of questions
The Magic are betting on a philosophy that mirrors the 2024 Boston Celtics: lock in your stars and pay to keep a winning core intact. For Boston, it worked — they won the title. But just a year later, their roster faced a potential teardown due to the financial strain. That’s the same road Orlando now risks traveling.
As of today, the Magic have a 2–3 year window to turn this core into something more than just a nice story. A deep playoff run. A trip to the Finals. Something that puts the Eastern Conference on notice.
The problem? Orlando hasn’t advanced past the first round since the 2009-10 season. This isn’t just about building a contender — it’s about rewriting a history of underachievement.
Maybe the Magic see something the rest of the league doesn’t. Maybe this group is different.
But if Orlando fails to strike while the window is open, the narrative could shift fast — from “the next great team” to “what could’ve been.”