Pascal Siakam has agreed to a four-year max extension with the Toronto Raptors.
"Pascal has been relentless in everything he has achieved," Raptors general manager Bobby Webster said. "He has embraced our development philosophies from Day One, he's one of us and a unique talent. He has improved himself every season without cutting any corners. He is a testament to hard work paying off and we're thrilled that he will continue his career here in Toronto."
ESPN's Bobby Marks added that Siakam's max extension based on the 2020-21 salary cap is $129.9 million. According to his projections, Siakam will make $29 million in the first year of his extension (2020-21) and $35.96 million in the last (2023-24).
It was reported by Chris Haynes of Yahoo Sports earlier this week that it was "almost a certainty" that Siakam and the Raptors would come to terms on an extension before Monday's deadline. It was likely going to take a maximum contract for the two sides to finalize an agreement, per Haynes.
Siakam is coming off of a breakout season that saw him average 16.9 points, 6.9 rebounds and 3.1 assists per game. He was named the league's Most Improved Player ahead of D'Angelo Russell and De'Aaron Fox.
Siakam then helped the Raptors win their first title in franchise history, posting 19.8 points, 7.5 rebounds and 3.7 assists per game in the Finals against the Golden State Warriors.
With Kawhi Leonard now on the LA Clippers, Siakam has an opportunity to prove himself as a No. 1 option on the Raptors this season.
The Raptors open the 2019-20 season on Tuesday, Oct. 22, when they host the New Orleans Pelicans.