All-Star guard Tyrese Haliburton and the Indiana Pacers have agreed on a five-year, designated maximum contract extension that could be worth up to $260 million, his agents, Dave Spahn and Aaron Mintz of CAA Sports, told ESPN’s Adrian Wojnarowski on Friday night.

Haliburton has been one of the home-run selections from the 2020 NBA draft, averaging 16.2 points and 8 assists per game while shooting 48% from the field and 41% from 3 in his first four seasons.

He broke out as a first-time All-Star last season for Indiana, averaging 20.7 points and 10.4 assists in 56 games. The Pacers had a 118.8 offensive rating this season with Haliburton on the court, which would be a top-5 offense in the league.

That made his contract extension a lock for Indiana, who has begun rebuilding its roster in recent years with Haliburton as one of the franchise pillars.

After being selected No. 12 overall by the Sacramento Kings, Haliburton was traded in February 2022 to Indiana in a deal centered around big man Domantas Sabonis. It’s a move that has worked well for both franchises considering the Kings snapped a 16-year playoff drought in ’23 and the Pacers acquired a young point guard that can be the foundation of their team for years to come.

ESPN’s Jamal Collier contributed to this report.