Magic Exercise Team Options on Banchero, Howard and Black

The Orlando Magic officially exercised the third-year team options of Anthony Black and Jett Howard, as well as the fourth-year team option of Paolo Banchero, the team announced Friday.

Orlando Magic forward Paolo Banchero (5) catches a pass against the Cleveland Cavaliers during the second quarter of game three of the first round for the 2024 NBA playoffs at Kia Center. / Mike Watters-Imagn Images

ORLANDO –– The Orlando Magic have exercised the third-year team options of guards Anthony Black and Jett Howard, as well as the fourth-year team option of forward Paolo Banchero, the Magic said Friday afternoon.

All three players are now signed to the Magic through the 2025-26 NBA season.

The move comes as no surprise, as Banchero will be eligible for a rookie scale max extension upon the conclusion of the 2024-25 season. Last year, Orlando's former No. 1 overall draft pick out of Duke in the 2022 NBA draft, became a first-time All-Star – following up his NBA Rookie of the Year campaign by becoming the youngest player in NBA history to lead his team in scoring, rebounding and assists for a season. For the year, he averaged 22.6 points, 6.9 rebounds and 5.4 assists a game.

He was one of just six players in the league last year to surpass all of 1,500+ points, 500+ rebounds and 400+ assists. Banchero tallied a team-high 16 double-doubles and two triple-doubles. Over two complete seasons with the Magic, he has played and started all 159 games in his career including regular and postseason.

Black, the No. 6 overall pick by the Magic out of Arkansas in 2023, played in 69 games and made 33 starts during the regular season in his rookie year. He averaged 4.6 points, 2.0 rebounds and 1.3 assists in a variable role.

Howard, selected five picks later out of Michigan at No. 11 in '23, played in 18 NBA games last year and appeared in 29 games with G League affiliate Osceola. With the Magic, Howard averaged just 1.7 points per game in 3.7 minutes a game. With Osceola, however, Howard averaged 18.5 points, 3.8 rebounds and 2.3 assists in 32.0 minutes a game.

Details of the contract were not released per team policy. However, Banchero is due to make $15.3 million in the final year of his rookie deal, while Black is scheduled to make $7.9 million and Howard $5.5 million in 2025-26 as a result of their team options.

Related Stories on the Orlando Magic

• FRANZ, MAGIC TRUSTING THE PROCESS WITH 3PT SHOT: Franz Wagner said "there's a little bit more to the story" about his low three-point percentage last year. Here's why both he and the Magic are confident his shot can, and will, come back. CLICK HERE
• CARTER JR. FEELS. 'REALLY GOOD' AFTER FIRST PRACTICES: Coming off surgery this summer with his left hand, Wendell Carter Jr. is full speed ahead as the season ramp-up begins. CLICK HERE
• 'NO REPLACING KELLE, MAN': Cole Anthony believes the Orlando Magic are poised to take another positive step this season. But he knows it'll be without Markelle Fultz, a friend and teammate for Anthony's first four NBA seasons. CLICK HERE
• BANCHERO WELCOMING 'HELL OF A CHALLENGE' IN EAST: To repeat or improve upon last year's success, the Magic face stiff competition in a top-heavy East. Paolo Banchero understands that, but he's got big aspirations this season. CLICK HERE
• YEAR 12 BRINGS KCP NEW LESSONS: Day one of Magic practice for Kentavious Caldwell-Pope meant equal parts teaching and learning. CLICK HERE
• MAGIC'S FULL 2024-25 SCHEDULE: As the season approaches, get familiar with the dates and times Orlando takes the floor this season. CLICK HERE

Want more Orlando Magic coverage on Sports Illustrated?

Follow 'Orlando Magic on SI' on Facebook and like our page. Follow Magic beat reporter Mason Williams on Twitter/X @mvsonwilliams. Also, bookmark our homepage so you never miss a story.