Chris Paul, Clippers to agree to 5-year, $107 million contract

Chris Paul will agree to a five-year, $107 million contract to stay with the Clippers. (Getty Images)

Los Angeles Clippers point guard Chris Paul is expected to agree to a five-year, $107 million contract extension shortly after free agency begins at 12:01 a.m. ET Monday, ESPN.com's Ramona Shelburne reported.

Paul's re-signing with the team has been widely anticipated, especially since the Clippers traded a first-round pick to the Boston Celtics to acquire new coach Doc Rivers last week. Earlier on Sunday, ESPN reported that Paul's representatives informed other potential suitors that Paul would stay with the Clippers.

The deal cannot be official until July 10, at the end of the free-agency moratorium.

The 28-year-old Paul averaged 16.9 points, 9.7 assists, 3.7 rebounds and 2.4 steals for the Clippers last season. He was named to the All-NBA First Team and the All-Defensive First Team.

In the past two summers, the Clippers have locked up their two biggest stars to long-term deals. Last year, forward Blake Griffin signed a five-year, $95 million extension.

GALLERY: Rare photos of Chris Paul

Update: 11:30 a.m., July 1

Paul made signing official on Twitter.