AP - Australian-born NBA star Kyrie Irving has agreed to terms on a five-year contract extension with the Cleveland Cavaliers, said to be worth $US90 million ($A97.4 million).
Irving has announced his intention to ink the lucrative long-term deal on July 10, when the league's free-agency signing period officially begins.
"I'm here for the long haul Cleveland and I'm ecstatic," Irving said via Twitter.
"Super excited and blessed to be here and a part of something special."
Franchise owner Dan Gilbert confirmed the news just hours into the NBA's negotiating period with free agents - which started on July 1 - following a reported meeting in New York with Irving and team officials.
"Looking forward to the next 6 years of @KyrieIrving in CLE. Just shook hands & intend to sign on the 10th. Can't be more excited about @cavs," Gilbert tweeted.
The deal would keep Irving, the first overall pick of the 2011 draft, at the Cavaliers through to the 2019-20 season. He was already locked in for next season on a salary of just over $US7 million ($A7.57 million).
Retaining the 22-year-old point guard will give the Cavaliers a solid duo of Irving and Canadian Andrew Wiggins, the top overall pick from this year's draft.
Irving, MVP of the league All-Star game, averaged 20.8 points, 6.1 assists and 3.6 rebounds per game last season.
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