Report: Lillard finalizing 2-year, $122M extension with Blazers

The Portland Trail Blazers and star point guard Damian Lillard are finalizing a two-year, $122-million contract extension, sources tell Yahoo Sports' Chris Haynes.

Lillard appeared in a career-low 29 games this past season as the veteran guard struggled with an abdominal injury. Portland finished with a 27-55 record, missing the playoffs for the first time since 2013.

The six-time All-Star holds career averages of 24.6 points, 6.6 assists, 4.2 rebounds, and a steal over 10 seasons. Lillard is also a six-time All-NBA selection and earned a spot on the NBA's 75th anniversary team.

The Blazers have made efforts to improve the roster around Lillard this year. They traded CJ McCollum to the New Orleans Pelicans in February, acquired Jerami Grant from the Detroit Pistons earlier in June, and drafted Kentucky guard Shaedon Sharpe seventh overall.

Lillard will be under contract with Portland through the 2026-27 campaign. The final year of his deal now includes a $63.3-million player option, according to ESPN's Bobby Marks, though Lillard's extension earnings could be slightly adjusted based on changes to the salary cap for the 2025-26 season.