The Indiana Pacers signed star guard Tyrese Haliburton to a five-year rookie maximum contract extension that could be worth up to $260 million, his agents told ESPN's Adrian Wojnarowski.

In his first full season with the Pacers, Haliburton averaged 20.7 points, 10.4 assists, 3.7 rebounds and 1.6 steals in 56 games. The 23-year-old also made his first All-Star Game.

Haliburton was drafted 12th overall in 2020 by the Sacramento Kings after spending two years at Iowa State.

The Kings traded Haliburton to the Pacers during his sophomore season alongside sharpshooter Buddy Hield for a package highlighted by former All-Star Domantas Sabonis.

Indiana finished with a 35-47 record this past season. The franchise drafted Houston forward Jarace Walker eighth overall and Belmont guard Ben Sheppard with the No. 26 pick in June's draft. They also signed former college player of the year Oscar Tshiebwe to a two-way contract.