The power forward accepted a five-year, $145 million contract extension at the 12:01 a.m. (US) deadline that began free agency Wednesday.
The Pelicans deal for Davis is the richest contract in NBA history, bigger than the $137 million extension Kobe Bryant signed with the Los Angeles Lakers in 2004 over seven years.
The Pelicans were allowed to negotiate the deal before July 1 because Davis already played for them. Yahoo Sports reports Davis dined with general manager Dell Demps and new head coach Alvin Gentry on Tuesday night in California to discuss the plan.
NOLA, I am here to stay! Just getting started… #6MoreYears #TakeFlight pic.twitter.com/Kni8WpikEA
— Anthony Davis (@AntDavis23) July 1, 2015 But the choice was simple; Davis took the money and the security that came with it. Unlike 2015 free agents, Davis will get the full value of the 2016 TV money and salary cap increase because his maximum deal will fall in line with next offseason’s constraints. He could have waited until next year and even hit restricted free agency, but the Pelicans had no plans to allow him to walk away for nothing.
New Orleans went 45-37 last season but lost in a first-round sweep to the eventual champion Warriors. With Davis locked up for the next six seasons, Demps and Gentry should be able to stabilize the franchise with a clear-cut plan in place.