Adrian Wojnarowski of Yahoo! Sports has tweeted that the Portland Trail Blazers and Brandon Roy have reached an agreement on his contract extension. A Woj tweets...
Brandon Roy has agreed to a 5-year extension worth between $78-$82 million with Blazers, a source tells Y!. News conf. set for Thursday.
Roy will be traveling to Portland on Thursday to sign the deal, source said. The Oregonian first reported a deal was imminent on Tuesday.
Yesterday, Jason Quick of The Oregonian wrote that the two sides were close.
Later yesterday afternoon, the Oregonian's John Canzano tweeted that the two sides had a verbal agreement in place.
More today as this continues to develop. Given Woj's reference to a press conference tomorrow, it's likely that the team will be issuing an official statement, possibly as early as this afternoon.
Say what you want about Awoj but this continues his summer of scoop dominance.
3:15PM: Here's a link to the story A Woj just posted which is, essentially, a grammatically and syntactically correct version of his tweets.
4:30PM: Chad Ford writes on ESPN...
The contract will be for the maximum allowed under league rules. Specific numbers won't be available until the NBA salary cap is set next July. This year a starting max contract would be worth $87 million over the course of five years.
"We've reached an agreement in principal," Roy's agent, Bob Myers, told ESPN.com Wednesday night.
Roy is expected to sign the contract and make it official on Thursday, according to sources.
Chad Ford also tweets...
Max contract value can't be determined until next July. This year it would've been worth $87 mil over 5 years.
But next year the cap expected to go down and so will max number. So probably in the $82 mil range if cap drops 5%
7:30 P.M. Jason Quick has quotes from Brandon...
"My family and I are extremely happy I will be a Blazer for a long time," Roy said after agreeing to sign a four-year deal, with a player option for a fifth season. "And I am very focused and determined to bring a championship to the Rose City."
9:00 P.M. Storyteller builds on Ford's earlier tweets and looks at the exact contract figures...
A maximum extension for Roy, if it started this summer, would be 5 years and $81.8 million. However, since revenues are expected to drop this year, the maximum amount will probably be even lower next summer. So he might only get $78 million or even $75 million - we won't know until next July.
-- Ben (benjamin.golliver@gmail.com)