The deal will include a player option after the fourth year that will allow Davis to become a free agent in 2020 if he chooses, according to Wojnarowski. The extension will begin with the 2016–17 season.
NBA free agency began Wednesday. However, players can't officially sign contracts until July 10.
Davis averaged 24.4 points, 10.2 rebounds and 2.9 blocks on 53.5% shooting during the 2014–15 season, his third in the NBA.
The former No. 1 pick was named an All-Star in each of the last two seasons and was named to the All-NBA First Team and NBA All-Defensive Second Team this year.
The Pelicans finished 45–37 this season and were swept by the Golden State Warriors in the first round of the playoffs.
- Molly Geary