Damian Lillard, Blazers agree to two-year, $122M extension

Portland Trail Blazers guard Damian Lillard Gary A. Vasquez-USA TODAY Sports

Damian Lillard, Trail Blazers agree to two-year, $122 million contract extension

By Mike Santa Barbara | Last updated 7/8/22

Six-time All-Star Damian Lillard's loyalty to the Portland Trail Blazers has paid off. Often the topic of trade speculation, it appears Lillard will be a Trail Blazer, possibly for the rest of his career.

According to ESPN's Bobby Marks, the Blazers and Lillard agreed to a two-year, $122 million contract extension on Friday.

Damian Lillard has signed a two-year $122 million extension with the Portland Trail Blazers, sources tell ESPN. The extension has a player option for the 2026-27 season.
— Bobby Marks (@BobbyMarks42) July 8, 2022

Marks reports that as part of the agreement, Lillard will opt in for his 2024-25 player option, and the two-year extension will begin with the 2025-26 season. That means Lillard will play out the remaining three years of a four-year, $176.2 million deal signed in 2021 before the extension kicks in.

Lillard will make $58.5 million in 2025-26 with a player option worth $63.3 million in 2026-27.

Here is the Lillard contract breakdown:

Current contract

22-23: $42.5M
23-24: $45.6M
24-25: $48.8M

Extension*

25-26: $58.5M
26-27: $63.3M (P)

The extension numbers could be adjusted based on the salary cap in 2025-26. It cannot exceed 35% of the cap for that season.
— Bobby Marks (@BobbyMarks42) July 8, 2022

After the Trail Blazers acquired Jerami Grant from the Detroit Pistons, a report surfaced claiming Portland planned to offer Lillard a "two-year contract extension that will exceed over $100 million."

Lillard has spent his entire 10-year NBA career with the Trail Blazers. The No. 6 pick overall in the 2012 NBA draft, Lillard is second in Portland franchise history with 17,510 points, behind only Hall of Famer Clyde Drexler (18,040).

In 711 regular-season games with the Trail Blazers, Lillard has averaged a franchise-high 24.6 points, with 6.6 assists, 4.2 rebounds and 1.0 steals.

More must-reads: