Free-agent guard Norman Powell and the Portland Trail Blazers agreed to a five-year, $90-million contract, his agent confirmed to ESPN's Adrian Wojnarowski.
Powell's contract is fully guaranteed and contains no player options, sources told Yahoo Sports' Chris Haynes.
The 28-year-old turned down an $11.6-million player option for next season in order to secure a more lucrative contract. He was reportedly the Trail Blazers' top priority in what's expected to be a busy offseason for the club.
Portland replaced longtime head coach Terry Stotts with Chauncey Billups in June and is still hoping to appease Damian Lillard after the franchise star said last month that the Trail Blazers needed to upgrade the roster in order to compete for a championship.
The Trail Blazers' only other move during Monday's opening to free agency was signing center Cody Zeller to a one-year contract. They also lost big man Zach Collins to the San Antonio Spurs.
Portland landed Powell in a midseason trade from the Toronto Raptors. He impressed down the stretch, averaging 17 points and 3.3 rebounds while shooting 36.1% from deep in 27 games and helping the Trail Blazers secure a playoff berth and avoid the play-in tournament.
