A person with knowledge of the deal tells The Associated Press that the Utah Jazz have agreed with guard Alec Burks on a four-year, $42 million extension that could be worth $45 million after incentives.

The deal was reached on Friday and was first reported by Yahoo! Sports. The person requested anonymity because an official announcement had not been made.

Burks was the 12th overall pick in 2011. He averaged 14.0 points and 3.3 rebounds in his third season in the league last year and is off to a nice start this season with 16.5 points on 50 percent shooting in the Jazz's first two games.

If they had not reached agreement by midnight, Burks would have become a restricted free agent next summer.