The Nets and guard Caris LeVert have agreed to a multi-year contract extension, the team announced on Monday afternoon.
A source said the extension is for three years and $52.5 million and that the deal does not include a player option. Since LeVert was in the draft class of 2016, he was eligible for his rookie extension.
“Caris personifies what it means to be a Brooklyn Net, and we firmly believe his best basketball is in front of him,” Nets general manager Sean Marks said in a statement. “The growth he has displayed in his first three seasons is a testament to his tireless work ethic, along with an unrelenting will to maximize his talents and achieve team success. Our entire organization is excited to continue to have Caris as one of the leaders of our program moving forward.”
The deadline to sign LeVert to a rookie extension was Oct. 21, but Marks moved quickly to lock him up through 2023 and avoid the possibility of allowing him to become a restricted free agent next summer and possibly attract a more lucrative offer.
LeVert could be primed for a big season playing alongside All-Star point guard Kyrie Irving, who signed with the Nets as a free agent in July. With Kevin Durant, another All-Star who committed to the Nets in free agency, sidelined for an undetermined amount of time as he recovers from a torn Achilles and All-Star D'Angelo Russell now with the Warriors, LeVert will be relied on to score more and be a key piece of the team's core.
LeVert, who turned 25 on Sunday, averaged a career-high 13.7 points in 40 games last season, including 25 starts. He dislocated his right ankle on Nov. 12 of last season, but did not need surgery and missed 42 games. LeVert returned in February and showed promising signs, with 11 points, four assists and five steals in 15 minutes in his first game back, a win over the Chicago Bulls.
LeVert averaged 21 points per game in the five-game playoff loss to the 76ers last season. He started two games in the series and was the Nets' most effective offensive player in the series.
The Nets traded power forward Thaddeus Young to the Pacers for the 20th overall pick in the 2016 draft, which Marks used to select LeVert. LeVert was Marks' first draft pick as Nets GM.