Damian Lillard, Blazers Agree to Contract Extension

Damian Lillard has spent the first decade of his NBA career with the Portland Trail Blazers, and now he’ll start the second decade with a little bit more job security.

Lillard and the Blazers agreed to a two-year contract extension worth $112 million on Friday. The Athletic’s Shams Charania was the first to report the news.

The Portland Trail Blazers and All-NBA star Damian Lillard are close to a two-year maximum contract extension, multiple sources tell @TheAthletic @Stadium. The new deal would take Lillard’s contract through the 2026-27 season.

Charania pins the contract number at two years, $120 million. ESPN’s Bobby Marks gives a more detailed look at the structure:

Here is the Lillard contract breakdown:

Current contract

22-23: $42.5M

23-24: $45.6M

24-25: $48.8M

Extension*

25-26: $58.5M

26-27: $63.3M (P)

The extension numbers could be adjusted based on the salary cap in 2025-26. It cannot exceed 35% of the cap for that season.

Charania adds perspective:

Lillard’s new deal will give him a total of five years and nearly $270 million on his current NBA contract. He now becomes one of the top earners – estimated $451M in salaries – in NBA history.

Marks tabs the players above Lillard in earnings as Kevin Durant, Steph Curry, and Bradley Beal.

With this extension, Lillard now has a five-year contract worth close to $270 million. The contract extension includes a player option in the 2026-27 season, meaning he will stay in Portland (unless traded, which seems highly unlikely) for the next four seasons.

Lillard will turn 37 by the time the deal ends, which gives this extension the potential to make Dame a lifelong Trail Blazer.