The Toronto Raptors signed guard DeMar DeRozan to a four-year contract extension on Wednesday.
As per team policy, financial terms of the deal were not disclosed, but multiple reports have indicated the deal is worth $40 million over the duration of the contract.
"DeMar has worked very hard and has been a significant part of the building process here in Toronto," Raptors president and general manager Bryan Colangelo said. "We view DeMar as a young, athletic and talented basketball player whose character fits what we are putting together."
DeRozan, 23, entered the 2012-13 season with career averages of 14.1 points and 3.4 rebounds over 222 games with the Raptors. He played in 63 games last season, averaging 16.7 points and 3.3 rebounds per game.
The USC product was selected ninth overall by the Raptors in 2009, and became just the fourth rookie in team history to start on opening night.