Report: Paul George, Pacers close to 5-year, $90 million contract extension

Paul George will be a Pacer for the foreseeable future. (Jesse D. Garrabrant/Getty Images)

All-Star forward Paul George and the Indiana Pacers are close to agreement on a five-year, $90 million contract extension, Yahoo Sports' Adrian Wojnarowski and Marc J. Spears reported on Sunday. The contract extension, which is for the league maximum, is expected to be finalized this week, according to the report.

The news doesn't come as a surprise. Last week, George told The Indianapolis Star that he would sign a contract extension before the start of the season. George has one year remaining on his contract before he would become a restricted free agent.

In three years, the 23-year-old George has quickly developed into the Pacers' star. He made the All-NBA third team last season, and he was voted the league's Most Improved Player. He helped lead the Pacers all the way to a Game 7 against the eventual-NBA champion Miami Heat last year in the Eastern Conference Finals.

In the 2012-13 season, George averaged 17.4 points and 7.6 rebounds per game. He averaged 19.2 points per game in last season's playoffs.