Victor Wembanyama, San Antonio Spurs agree on 5-year extension that could top $250M, AP source says

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Victor Wembanyama signed a five-year extension with the San Antonio Spurs worth up to $250 million, undersigning a discounted contract to support the team's long-term financial flexibility.

Victor Wembanyama has signed what will be the richest contract in San Antonio Spurs history, a five-year extension that could exceed $250 million if the player option in the final season is picked up, a person with knowledge of the negotiations said Friday. The Spurs, who went to the NBA Finals this past season behind the All-NBA center and unanimous Defensive Player of the Year, announced that Wembanyama had signed, simply saying the sides agreed on “a multi-year contract extension.” The agreement comes at a discount; Wembanyama could have agreed to a deal that topped $300 million — but chose a lesser amount to help give the Spurs flexibility going forward with their young core and in anticipation of the contracts some of those budding stars will be eligible for in coming years, the person said.