The guard is entering his third season with Houston.
Rockets guard Kevin Porter Jr. has agreed to a four-year, $82.5 million contract extension with the team, ESPN’s Adrian Wojnarowski reported on Monday.
The extension is fully guaranteed only through the first season for $15.86 million, according to Shams Charania of The Athletic. After the first year of the deal, which is next season, the Rockets can release Porter at any point without paying him the rest of his contract amount.
The agreement comes on the eve of the 2022–23 regular season. The Rockets play their first game on Wednesday against the Hawks.
Porter was selected by the Cavaliers with the 30th pick in the first round in the 2019 NBA draft. He played in 50 games for Cleveland as a rookie, averaging 10 points, 3.2 rebounds and 2.2 assists per game.
He was traded to Houston in January 2021. In his first season with the Rockets, Porter started in 23 of 26 game appearances, averaging 16.6 points, 3.8 rebounds and 6.3 assists.
Last season, Porter played a significant role for the Rockets, averaging 15.6 points, 4.4 rebounds and 6.2 assists per game in 61 starts.
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For more Houston Rockets coverage, go to Inside The Rockets.