The extension, which will start at the end of his rookie contract in 2014, is worth up to as much as $90 million over the five year deal under the league’s collective bargaining agreement.
The 23-year-old George was drafted by the Pacers as the 10th overall pick in 2010.
In 2013 he was selected to play in his first NBA All-Star Game, and also received the NBA Most Improved Player Award as he led the team to Eastern Conference finals before losing to Miami Heat 3-4 in the best-of-seven series last season.
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