The Indiana Pacers signed rising star Paul George to a five-year maximum contract extension that will take him through the 2018-2019 season, ESPN.com reported Tuesday.
The team is expected to make a formal announcement on Wednesday.
Precise contract terms will not be determined until the extension take effect next year, but George is expected to earn about $80 million in guaranteed money over the course of the contract, according to the report.
George, a forward, can earn an additional $10,000 if he makes an All-NBA team or wins an MVP award after this upcoming season.
George, 23, was named to the All-Star team this past season, when he also won the NBA's Most Improved Player Award. The third-year pro averaged 17.4 points, 7.6 rebounds and 4.1 assists in 2012-2013 and was also named to the league's all-defensive team.
The Pacers have several key members locked up. They signed forward David West to a three-year, $36 million deal over the summer, and last year the Pacers signed center Roy Hibbert to a four-year deal worth $58 million.