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New Orleans Pelicans All-Star forward Anthony Davis has reached agreement on a maximum five-year extension that could be worth in excess of $145 million, a league source told Yahoo Sports.
The contract will have a player option after the fourth year, sources said.
Davis and his agent, Thad Foucher of Wasserman Media Group, met with New Orleans general manager Dell Demps and coach Alvin Gentry for a dinner in Beverly Hills, Calif., on Wednesday night and reached an agreement after midnight ET, sources told Yahoo Sports.
Davis is eligible for the Derrick Rose rule that allows for him to occupy 30 percent of the Pelicans' salary cap.
The agreement solidifies Davis as the franchise's cornerstone and will keep him off the free-agent market next summer. The extension will begin with the 2016-17 season. Davis is one of the transcendent talents in the NBA and expected to eventually be a multiple-time MVP winner in the league.
Davis, 22, averaged 24.4 points, 10.2 rebounds and 2.9 blocks last season while guiding New Orleans to the playoffs for the first time since 2011. He finished fifth in voting for the league's MVP award.
The Pelicans were swept by the eventual champion Golden State Warriors in the first round, then fired Monty Williams as coach. Alvin Gentry, the Warriors' top assistant last season, was hired to replace Williams.
Davis was the No. 1 overall pick in the 2012 draft.
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