The Phoenix Suns have locked up their franchise player to a long-term deal as it signed Devin Booker to a five-year, $158-million maximum contract extension on Saturday.

The signing was first reported by Shams Charania of Yahoo Sports. Before this, Adrian Wojnarowski of ESPN reported early this month that the Suns and Bookers were closing in a long-term contract.

Booker will play the final year of the four-year, $9.98 million worth of contract, which he signed with the Suns after he had been drafted 13th overall in the 2015 NBA Draft. Booker will earn $3.31 million next season before his new deal kicks in starting the 2019-20 season.

$27.2M Earnings In 2019-20 Season

From his new deal, Booker is projected to earn $27.2 million in the 2019-20 season and $29.4 million in 2020-21. He will earn $31.6 million in the 2021-22 season, $33.7 million in the 2022-23 season, and $35.9 million in the final year of the deal during the 2023-2024 season.

In his rookie year, Booker made it to the All-Rookie First Team after averaging 13.8 points in 76 games. In the following season, Booker raised his scoring average to 22.1 points in 78 starts.

Last season, the 21-year-old Booker set career-highs in points (24.9 per game), three-point percentage (38.3), free-throw shooting (87.8), assists (4.7) and rebounds (4.5). Booker also defeated Klay Thompson in the 2018 NBA Three-Point Shootout.

Booker also made his scoring presence felt when he scored 70 points against the Boston Celtics on March 24, 2017. At 20 years and 145 days old during that time, Booker became the youngest player in NBA history to score 60 or more points.

Devin Booker Thanks Suns For Contract Extension

Suns general manager Ryan McDonough made Booker's signing official with a prepared statement to the media. In his statement, McDonough said Booker has been a pillar of the Suns' franchise since he was drafted in 2015.

"Devin and the team both wanted to extend his agreement with the club as long as we possibly could. This agreement reflects a commitment from both parties to the Phoenix community, the state of Arizona and Suns fans worldwide," McDonough said.

In a statement that he posted on his Twitter account, Booker said he's humbled and honored to commit to the Suns' organization long-term.

"I loved calling Phoenix home the last 3 seasons as this team and community are special to me. Thank you to the Suns for drafting me and believing in me. I look forward to the future & pursuing a title as a Sun," said Booker, who was pictured signing his new contract.

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