The Washington Wizards and guard Bradley Beal have agreed to a two-year maximum contract extension worth $72 million that also includes a player option for 2022-23, his agent, Mark Bartelstein, told ESPN's Adrian Wojnarowski.
The 26-year-old Beal was previously set to hit free agency as part of the heralded 2021 class. He'll now be under contract until either the summer of 2022 - if he does not exercise his option - or the following offseason.
The timing of the option year could be strategic. If Beal declines the option, which follows his 10th NBA season, he'd be eligible to re-sign with Washington on a five-year, $266-million contract. If he signs elsewhere that offseason, his maximum contract would be $198 million over four years.
"Brad has always made it clear to me, that in a perfect world, he would never leave Washington," Bartelstein said to Wojnarowski. "He has felt an obligation to be the focal point in turning the Wizards into an elite team.
"He's thrilled about all the resources that (owner) Ted (Leonsis) is pouring into the franchise and thrilled how committed (Leonsis) and (general manager) Tommy (Sheppard) are to building something special."
By signing the extension, Beal tied his immediate future to Washington. He can't be traded until after the 2019-20 season and his salary would immediately increase by 15% if he's moved while playing under the deal, according to ESPN's Bobby Marks.
Beal is coming off his best NBA campaign. The two-time All-Star averaged career highs in nearly every statistic, including points (25.6), assists (5.6), rebounds (five), steals (1.5), and minutes per game (36.9).
The Wizards said in June that they would offer Beal an extension as soon as they were eligible to, dispelling notions that the team would shop the former third overall pick in order to rebuild.
Beal had until Monday to accept Washington's offer.