The Portland Trail Blazers have reached an agreement on a five-year contract extension with guard Brandon Roy, a league source told ESPN.com.
The contract will be for the maximum allowed under league rules. Specific numbers won't be available until the NBA salary cap is set next July. This year a starting max contract would be worth $82 million over the course of five years. However, next year the cap is expected to go down between 5 and 10 percent. That means the value of Roy's contract will go down, too.
"We've reached an agreement in principle," Roy's agent, Bob Myers, told ESPN.com Wednesday night.
Roy is expected to sign the contract and make it official on Thursday, according to sources.
The Blazers have been in an on-again, off-again contract negotiation throughout the month of July. At times, Roy's camp reportedly was frustrated with the Blazers' unwillingness to offer Roy a maximum contract. It appears Roy ultimately got what he wanted.
Roy led the Blazers with 22.6 points and 5.1 assists per game last season, his third in the league. He was acquired from the Minnesota Timberwolves in a draft-day trade for Randy Foye in 2006 and went on to win NBA Rookie of the Year honors.
The high-scoring guard helped the Blazers go 54-28 last season before losing in the first round of the playoffs. Portland was 21-61 the season before Roy arrived.
Now the Blazers are turning their full attention to extending the player who was drafted four spots ahead of Roy -- LaMarcus Aldridge. A source close to the situation told ESPN.com that Aldridge and the team were "progressing" toward a deal.
Chad Ford is a senior NBA writer for ESPN.com. Information from The Associated Press was used in this report.
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