Report: Pelicans' Davis signs max extension

New Orleans, LA (SportsNetwork.com) - Less than one minute after the NBA's free agency period began on July 1, the New Orleans Pelicans and star big man Anthony Davis reportedly reached a maximum contract extension worth $145 million over five years.

The deal cannot be completed until July 9.

Davis, the top draft pick out of Kentucky in 2012, has quickly emerged as one of the elite talents in the NBA. The two-way star averaged 24.4 points, 10.2 rebounds and 2.9 blocks per game this past season and led the Pelicans to the postseason for the first time since the 2008-09 season.

Davis tweeted, "NOLA, I am here to stay! Just getting started," along with a picture with new head coach Alvin Gentry and team executives to confirm the announcement.

The extension, which includes at least one player option, will kick in for the 2016-17 season.