Paolo Banchero's net worth in 2024

04/05/2024 18:54

Paolo Banchero’s net worth in 2024 is $2 million. Banchero is an All-Star power forward for the Orlando Magic. He was the 2022-23 Rookie of the Year. Let’s take a closer look at Paolo Banchero’s net worth in 2024.

What is Paolo Banchero’s net worth in 2024?: $2 million (estimate)

Paolo Banchero’s net worth in 2024 is $2 million. This is according to reputable outlets such as The Sports Lite.

Paolo Banchero was born on Nov. 12, 2002, in Seattle. He attended O’Dea High School where Banchero kickstarted his amateur basketball career. In his junior season, Banchero averaged 22.6 points, 11.0 rebounds, and 3.7 assists per game to become the Gatorade Player of the Year. He finished his high school basketball career as a McDonald’s All-American.

Coming out of high school, Banchero was a five-star recruit according to ESPN. As a five-star recruit, Banchero received offers from various college basketball programs around the country.

These included Washington, Vanderbilt, USC, Tennessee, Oregon State, Oklahoma State, Oklahoma, North Carolina, Michigan, Memphis, Kentucky, Kansas, Iowa State, Gonzaga, Arizona, and Duke. Banchero eventually chose Duke.

Banchero only suited up for one season for the Duke Blue Devils. In his lone season, Banchero averaged 17.2 points, 7.8 rebounds, and 3.2 assists per game while shooting 48 percent from the field overall. During the 2021-22 season, Duke went 32-7.

Furthermore, Banchero led the Blue Devils to the Final Four of the 2022 NCAA Tournament before falling to North Carolina, 81-77. For his efforts, Banchero was named to the ACC All-Freshman Team and First Team All-ACC. He was also crowned as the ACC Rookie of the Year.

Paolo Banchero is drafted by the Magic

Paolo Banchero has been named the 2022-23 NBA Rookie of the Year https://t.co/tAYEzSExH7pic.twitter.com/I0Mu97EMow

— Sports Illustrated (@SInow) April 25, 2023

After only a single season with Duke, Banchero went on to be a one-and-done player. He decided to forego his remaining years of college eligibility by officially declaring for the 2022 NBA Draft.

On draft night, the Orlando Magic selected Banchero in the first round with the first overall pick. Shortly after, Banchero signed a four-year rookie deal worth $50.16 million with the Magic.

In his rookie season, although the Magic posted a lowly 34-48 record, Banchero was one of the team’s bright spots. The 6-foot-10 power forward averaged 20.0 points, 6.9 rebounds, and 3.7 assists per game while shooting 43 percent from the field overall. For his efforts, Banchero was named the NBA Rookie of the Year. Furthermore, he was also part of the All-Rookie First Team.

In his second season, Banchero took a step forward. In the 2023-2024 season, Banchero is averaging 22.7 points, 6.8 rebounds, and 5.2 assists per game while hitting 46 percent from the field overall. With Banchero’s stellar play, the Magic rising star managed to earn a spot in the All-Star Game roster for the first time in his young NBA career as a reserve.

More importantly, the Magic improved to 47-35 and earned the fifth seed in the 2024 NBA Playoffs. They are looking to take down the fourth-seeded Cleveland Cavaliers in the first round.

Paolo Banchero’s endorsement deals

As the top overall pick of the 2022 NBA Draft, it isn’t surprising that Banchero attracted the attention of several major brands. In fact, the Magic rising star even agreed to sign a long-term deal with Nike’s Jordan brand, according to a report by ESPN.

But aside from signing a deal with the Jordan brand, Banchero also signed endorsement deals with other well-known brands such as game company 2K Sports, Gran Turismo movie, Philips Norelco, and JD Sports US, according to sources.

The former NBA Rookie of the Year also serves as one of the brand ambassadors for luxury brand Oakley, based on a report by Sports Business Journal.

Paolo Banchero representing Team USA

In terms of international basketball, Banchero was making headlines as potentially representing the Italian national basketball team in international competitions, including the 2023 FIBA World Cup. However, the top overall draft pick chose to commit to Team USA, triggering a sharp statement from Italian basketball president Gianni Petrucci.

At the 2023 FIBA World Cup, Banchero averaged 9.3 points, 3.4 rebounds, and 1.6 assists per game while shooting 58 percent from the field overall. Team USA played for the bronze medal but lost to Canada.

Although Banchero and Team USA went home without a medal, the team did manage to earn $53,000 for taking part in the event. And by advancing to the top 16, Team USA bagged another $107,000. In addition to these, Team USA collected $1.2 million more making it until the final four, as per reports.

Banchero will be expected to answer the call of duty once again, after Team USA announced its 41-player pool that will take part in the upcoming 2024 Paris Olympics. After the 2023 FIBA World Cup debacle, Team USA is expected to parade a star-studded lineup to defend its gold-medal dominance at the Summer Olympic Games.

Nevertheless, were you at all stunned by Paolo Banchero’s net worth in 2024?

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