HOUSTON (AP) — The Houston Rockets have agreed to a four-year contract extension with Kevin Porter Jr. that could be worth as much as $82 million, a person with knowledge of the negotiations told The Associated Press on Monday.
Though the value of the extension could reach $82 million, only the first season in 2023-24 is guaranteed at about $16 million. The person spoke to The AP on the condition of anonymity because the deal hadn’t been officially announced.
The deal was reached Monday, the deadline for players out of the rookie draft class of 2019 to agree to extensions. The 22-year-old Porter will make $3.2 million this season in the last year of his current deal which remains in place.
He is one of the young players the rebuilding Rockets hope will help them return to contention. Porter was the 30th overall pick in the 2019 draft and spent his first NBA season with the Cavaliers before being traded to the Rockets in January 2021.
He has become a solid player in his two seasons with the Rockets, appearing in 87 games with 84 starts. Porter averaged 15.6 points, 6.2 assists and 4.4 rebounds for Houston last season.
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AP Basketball Writer Tim Reynolds contributed to this report.