Context:

In the NBA's 2022 draft class, the top three picks have secured significant contract extensions, reflecting their impactful performances. Paolo Banchero, selected first, has signed a five-year extension with the Orlando Magic, potentially worth $287 million, following his impressive progression and contributions to the team's recent playoff appearances. Chet Holmgren, the second pick, agreed to a five-year extension with the Oklahoma City Thunder, valued up to $250 million, after playing a crucial role in their recent NBA Finals victory, despite previous injuries. Jabari Smith Jr., the third pick, is set to sign a five-year, $122 million extension with the Houston Rockets, maintaining his consistent performance that helped the team secure the second seed in the Western Conference. These extensions highlight the players' rising prominence and the franchises' commitment to building around young talent for future successes.

Dive Deeper:

• Paolo Banchero, the No. 1 overall pick in the 2022 NBA Draft, has signed a lucrative five-year contract extension with the Orlando Magic, potentially reaching $287 million if he qualifies for a supermax deal, after showcasing significant improvements and leading the team to consecutive playoff appearances.

• Chet Holmgren, chosen second in the 2022 draft, has secured a five-year maximum rookie contract extension with the Oklahoma City Thunder, potentially worth up to $250 million, following his instrumental performance in the Thunder's NBA Finals triumph, despite initial setbacks due to a foot injury.

• Jabari Smith Jr., the third overall pick, is finalizing a five-year, $122 million extension with the Houston Rockets, having been a key player in the team's rise to the second seed in the Western Conference, underscoring his steady contributions over the past three seasons.

• Banchero's remarkable rookie season, earning him the Rookie of the Year title, paved the way for his leadership role in the Magic, as he consistently improved his stats, averaging 25.9 points, 7.5 rebounds, and 4.8 assists per game last season, despite battling an oblique muscle injury.

• Holmgren, after missing his rookie season due to a foot injury, became a pivotal defensive force for the Thunder, contributing significantly to their championship win with standout playoff performances and maintaining strong defensive stats across his limited regular-season appearances.

• Smith's consistent performance, averaging 13 points and 7.5 rebounds per game over 212 career games, has made him a valuable asset to the Rockets, who resisted trade offers involving him, including those from the Phoenix Suns during negotiations for Kevin Durant.

• These substantial contract extensions for Banchero, Holmgren, and Smith not only reflect their individual growth and potential but also indicate their respective teams' strategies to secure a competitive edge by investing in their young talents for sustained success.