Report: Hornets agree to 4-year, $48M extension with Kemba Walker

Michael Jordan wasn't kidding Tuesday when he said the Charlotte Hornets were optimistic about signing point guard Kemba Walker to an extension by Friday's deadline.

The Hornets have agreed to a four-year, $48-million contract extension with Walker, according to a report from Marc Stein of ESPN.

A $12 million annual salary would make Walker one of the league's 10 highest-paid point guards at present, and he should be safely among the league's top half when the extension kicks in. That standing may be arguable, but the salary stands to look better under a rising salary cap in future years and is probably close to market value.

Walker is a good player, but not quite a great one. His poor shooting percentage hides that he's an effective offensive player who has made the most of a tough situation the past few years in Charlotte, with little help in terms of creating offense for the team. Over three seasons, he's averaged 16 points and 5.5 assists with an above-average 17.1 player efficiency rating, an impressive line considering.

Still just 24, there's upside left with Walker, although his ultimate potential may be in the tier below All-Star. That's completely fine at $12 million, especially since the contract doesn't kick in until 2015-16, when Walker should be entering his prime.

There's also likely value for the Hornets in locking up a core piece, providing them with some financial certainty as they plot out the next few years. Had an extension not been reached by Friday, Walker would have entered the summer as a restricted free agent, leaving the Hornets at risk of losing him or overpaying him.