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Luka Doncic agrees to $200 million extension with Dallas Mavericks

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As expected, 22-year-old NBA MVP candidate Luka Doncic has agreed to sign a five-year designated player extension from the Dallas Mavericks worth in excess of $200 million, according to ESPN's Adrian Wojnarowski.

The deal, per the report, is worth $207 million.

"Today is a dream come true," Doncic told ESPN in a statement, in part. "The game of basketball has given me so much and has taken me to so many amazing places. I am humbled and excited to remain in Dallas as part of the Mavericks and appreciate the support of my fans."

Luka Doncic now firmly entrenched in Dallas

Doncic earned First Team All-NBA honors for the second consecutive season in 2020-21, qualifying for a starting salary of 30% of the projected $115.7 million salary cap in the 2022-23 season. The third overall pick in the 2018 NBA draft, Doncic is owed $10.2 million next season, the final year of his rookie contract.

The offer was a no-brainer for the Mavericks. Doncic is arguably the most accomplished 22-year-old in basketball history. He helped his home country of Slovenia to a gold medal at the prestigious EuroBasket tournament as an 18-year-old in 2017, and then led Real Madrid to the EuroLeague championship a year later, capturing MVP honors at the continent's highest level during the regular season and postseason.

In Dallas, Doncic won Rookie of the Year in 2019 and has been other-worldly the past two seasons, averaging 28.3 points (on 47/33/75 shooting splits), 8.7 rebounds and 8.7 assists in 33.9 minutes per game. His 36 career triple-doubles during the regular season are somehow already 11th in NBA history, eight more than Michael Jordan and 11 more than reigning Finals MVP Giannis Antetokounmpo. Doncic finished sixth in MVP voting this year behind Nikola Jokic, Joel Embiid, Stephen Curry, Antetokounmpo and Chris Paul.

Doncic's next step is playoff success. Dallas has lost to the Los Angeles Clippers in the first round each of the last two years, despite Doncic's 46 points, 14 assists and seven rebounds in a Game 7 loss this year.

With Doncic now in the fold for the foreseeable future, the Mavericks front office, led by new president of basketball operations Nico Harrison, can focus on the task of building a championship-caliber team around their superstar. Underwhelming max-contracted big man Kristaps Porzingis is owed $101 million over the next three seasons, a roadblock to roster reconstruction. Tim Hardaway Jr., the team's third-leading scorer, just re-signed with the team

None of it seems so daunting knowing Doncic is firmly entrenched in Dallas well into this decade.

Luka Doncic at the Tokyo Olympics
Luka Doncic led Slovenia to a fourth-place finish the Tokyo Olympics earlier this month. (Gregory Shamus/Getty Images)

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Ben Rohrbach is a staff writer for Yahoo Sports. Have a tip? Email him at rohrbach_ben@yahoo.com or follow him on Twitter! Follow @brohrbach

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