PORTLAND, Ore. (AP) The Portland Trail Blazers formally signed guard CJ McCollum to a four-year contract extension Wednesday.

The terms of the deal were not disclosed by the team, but a person familiar with it told The Associated Press on Monday that it is worth $106 million.

The extension, which takes effect after the upcoming season, will keep McCollum in Portland through the 2020-21 season.

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McCollum was named the NBA's 2016 Most Improved Player after averaging 20.8 points, 3.2 rebounds and 4.3 assists during the regular season. He raised his scoring average by more than 14 points over the previous season.

The 24-year-old guard became a starter in the Blazers' backcourt with Damian Lillard last season after four of the team's starters left in the offseason.