Toronto Raptors guard Norman Powell has agreed to a four-year, $42 million contract extension, league sources told ESPN on Thursday.
The deal, which starts with the 2018-'19 season, includes a player option on the fourth year, league sources said.
Powell has steadily developed into one of the league's best young two-way guards. He is expected to play a significant role on Toronto's bid for an Eastern Conference championship.
Powell, the 46th overall pick in the 2015 NBA Draft, could've become a restricted free agent in July.
Toronto president Masai Ujiri and Powell's agent, Thad Foucher of Wasserman Media Group, completed the deal Thursday.