Dallas Mavericks star Luka Doncic is on the verge of securing historic earnings following his recent accomplishment.

The 25-year-old is now eligible for the largest contract in NBA history after being named to the All-NBA First Team in the 2023-24 season, his fifth selection in just six seasons in the league.

Doncic could receive a record-breaking five-year supermax extension worth $346.3 million from the Mavericks in the summer of 2025, as projected by front-office expert Bobby Marks of ESPN.

The potential deal will span from the 2026-27 season to the 2030-31 season. During that time, Doncic would earn 35 percent of the projected salary cap in its first year, with an annual eight percent increase.

The Slovenian is projected to make $59.7 million in the first year of the deal and end with $78.8 million in the final year.

Doncic will also be the first player in NBA history to earn a salary of more than $70 million in a single season.

How did Luka Doncic become eligible for the largest contract in NBA history?

The supermax contract incentivizes stars to remain with their original team. It can only be awarded after 7 to 8 years of service if they stay with the team that drafted them unless they are traded during their rookie contracts, in which case the new team gains the right to offer the supermax.

Furthermore, they must meet an additional one of the following criteria in terms of achievements: winning MVP in one of the preceding three seasons before signing, or making an All-NBA Team/winning Defensive Player of the Year honors in the immediately preceding season or two of the three preceding seasons before signing.

Doncic is already eligible for the supermax even if he doesn't win MVP, DPOY, or make an All-NBA team in 2024-25, as he has already earned All-NBA First Team selections for the past two seasons.