Davis agrees to five-year extension

Davis was the first overall selection in the 2012 NBA Draft. Kyle Terada-USA TODAY Sports

The New Orleans Pelicans agreed to terms with All-Star forward Anthony Davis on a five-year, $145 million contract extension Wednesday, according to Yahoo Sports.

The contract contains a player option after the fourth year, but Davis had one more year left on his rookie deal so he will remain in New Orleans for at least the next five seasons.

“I just think he’s one of those special players that comes along once every 25 or 30 years,” head coach Alvin Gentry said during his introductory press conference. “He’s got a chance to be Tim Duncan. He’s got a chance to be Kevin Garnett. He’s got a chance to be one of those special players, and I think when you have a foundation of a great player like that, then I think you got something special.”

The new deal can be formally signed on July 9. Davis averaged 24.4 points, 10.2 rebounds and a NBA-best 2.94 blocked shots per game last season.