The Denver Nuggets have reached agreement with point guard Ty Lawson on a four-year, $48 million contract extension, league sources told Yahoo! Sports.
Lawson, who turns 25 on Saturday, agreed to the extension one day before the NBA's deadline. He would have become a restricted free agent at the end of the season if he and the Nuggets hadn't come to terms.
Lawson averaged career highs of 16.4 points and 6.6 assists in 61 games for the Nuggets last season. He was the 18th overall pick in the 2009 NBA draft.