League sources told ESPN and the Washington Post on Monday that Beal is eligible to sign a three-year, $111 million max extension Friday. Wizards general manager Tommy Sheppard said the franchise will offer Beal the max extension as soon as it is allowed.
"At the very first moment allowed, we are going to offer Brad the full max extension," Sheppard said.
The 26-year-old guard has an Oct. 21 deadline to sign the extension once it's offered. According to ESPN, Beal's agent, Mark Bartelstein, said the Wizards star will need time to consider the offer.
"There are moments in a career where there are big decisions to make, and Brad will work through everything and figure out the right thing to do," Bartelstein said. "There are nothing but great feelings for Ted [Leonsis], Tommy and Scott [Brooks]. They've treated Brad wonderfully."
Sheppard, who was promoted to general manager Monday, said the Wizards have no intentions of engaging in trade talks if Beal declines the extension. Beal has two years and $55.8 million remaining on his current contract.
"He's got two years left on his deal, and he's from Missouri and we are going to have to show him," Sheppard said. "We need to show him that we are about building this the right way, that we aren't going to have character-deficient guys around him. We are going to surround him with guys he wants to play with."
Beal could become eligible to ink a five-year, $254 million supermax extension next off-season if he earns All-NBA status in the upcoming season. Without the supermax contract, he is eligible to sign a four-year, $155 million max deal next year.
Beal averaged a career-high 25.6 points, 5.5 assists and 5.0 rebounds per game last season.