SAN ANTONIO -- San Antonio Spurs star Victor Wembanyama has agreed to a five-year, $252 million maximum rookie-scale contract extension, sources told ESPN's Shams Charania on Friday.
The deal includes a player option in the fifth season, sources said.
"Spurs family, I'm here to stay," Wembanyama posted on social media Friday. "Whatever it takes."
Spurs family, I'm here to stay. Whatever it takes🖤
With no escalators in his new contract, Wembanyama's deal is the third-largest rookie extension in NBA history, behind the Pistons' Cade Cunningham and the Cavaliers' Evan Mobley, who each have five-year extensions worth $269 million.
Spurs chairman Peter J. Holt, CEO R.C. Buford, general manager Brian Wright and coach Mitch Johnson traveled to Paris on Friday to meet and spend time with Wembanyama, who is from France, and his family and representatives.
Wembanyama decided on the 25% maximum instead of the 30% supermax escalators to $303 million after he and the Spurs went through multiple frameworks, sources said. San Antonio worked in close partnership with Wembanyama and his representatives, offering the full super max and different variations of extensions, according to sources. But Wembanyama ultimately chose a contract sacrifice rooted in giving him and the organization increased ability to build a sustained title contender around him.
The 22-year-old became eligible to negotiate his extension the day after the Spurs were eliminated by the New York Knicks in five games in the NBA Finals. Wembanyama started off his offseason with a trip to France, where he attended the Louis Vuitton SS27 men's show the night of the NBA draft.
"This has been a hell of a year in terms of experience," Wembanyama said after San Antonio's Game 5 loss in the NBA Finals. "I don't think we could have learned more and gained more experience in one playoff run and in one season, and personally in 18 months. It's been hard and full of lessons."