George can earn up to $226 million over the next five seasons, George's agent told ESPN's Adrian Wojnarowski. His extension adds four years and $190 million on top of his $35.4-million salary for the 2020-21 campaign.
"As a kid growing up in Southern California, I always dreamed of playing in Los Angeles, where my friends and family could come watch me play. I am so grateful to Steve Ballmer, Lawrence Frank, coach Ty Lue, my teammates, and the entire Clippers organization for believing in me," George said. "I am proud to call this my home and look forward to doing my part in helping make the team a tremendous success – both on and off the court – in the years ahead."
The All-Star forward's new deal contains a player option for the 2024-25 season, George's agent said to Wojnarowski.
George, traded to the Clippers from the Oklahoma City Thunder in July 2019, recently stated his desire to retire in Los Angeles.
The Palmdale, California, native was limited to 48 contests during his first season with the Clippers because of injury. He was still productive in that time, averaging 21.5 points while shooting 43.9% from the field and a career-high 41.2% from beyond the arc. George also contributed 5.7 rebounds, 3.9 assists, and 1.4 steals in 29.6 minutes per game.
The 30-year-old struggled during the 2020 postseason, converting 39.8% of his field goals across 13 playoff contests. George put forth a pedestrian effort in his team's winner-go-home Game 7 loss to the Denver Nuggets, registering 10 points on 4-of-16 shooting.
After retaining George's services long term, Frank and the Clippers will now turn their attention to superstar teammate Kawhi Leonard. The 2014 and 2019 Finals MVP could become an unrestricted free agent at the conclusion of the upcoming season if he declines his $36-million player option for 2021-22.
Los Angeles finished the 2019-20 regular season ranked second in the Western Conference with a 49-23 record. The club opens its 2020-21 schedule with a matchup against the defending-champion Los Angeles Lakers on Dec. 22.