The New Orleans Hornets agreed to a contract extension with guard Chris Paul that could keep the All-Star with the team for the next four years, the Associated Press is reporting.

Lance Young, Paul's agent, said Paul agreed to a three-year extension with a player's option for a fourth year. The total value of the deal is $68 million.

The Hornets will pay Paul the maximum allowable under the NBA's collective bargaining agreement, starting at 25 percent of the salary cap for the first year of the extension, with 10 percent raises thereafter.

Via ESPN

New Orleans Hornets

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