New Orleans Pelicans, Anthony Davis agree to 5-year, $145M extension

The New Orleans Pelicans and star forward Anthony Davis took only a minute into the start of free agency when they agreed to a five-year, $145 million extension that starts in the 2016-17 season.

ESPN reported that Davis' deal will be the biggest in the league when it kicks in. The exact dollar figure will be determined once the new salary cap is set in 2016, with a major rise expected due to upcoming television money.

Davis tweeted, "NOLA, I am here to stay! Just getting started... #6MoreYears #TakeFlight"

The Pelicans were swept out of the first round of the playoffs by the eventual champion Golden State Warriors, but it wasn't due to Davis. He averaged 31.5 points and 11 rebounds after averaging 24.4 points and 10.2 boards in the regular season.

Davis, 22, was the No. 1 overall pick in the 2012 NBA Draft out of the University of Kentucky.

Davis and other first-round picks from the 2012 draft are eligible to negotiate contract extensions now through Oct. 31. They can't be formally signed until July 9, when a league-wide moratorium on roster business is lifted.

The five-year deal, which includes a provision that will allow Davis to return to free agency after Year 4, will make Davis as New Orleans' designated player, according to ESPN.

Pelicans general manager Dell Demps and newly hired coach Alvin Gentry met with Davis and his agent, Thad Foucher, in Los Angeles, just after midnight eastern time when the free agency negotiating period began.