DeMar DeRozan lands $40M extension with Raptors

The Toronto Raptors have agreed in principle to a four-year, $40 million contract extension with forward DeMar DeRozan, league sources told Yahoo! Sports.

The Raptors and DeRozan gathered momentum on an extension within the final 24 hours of the league's Wednesday ET midnight deadline for extension.

[Also: Lakers flop in opener despite star-studded roster]

DeRozan, 23, joined fellow 2009 NBA draft class members James Harden, Ty Lawson and Stephen Curry by agreeing to contract extensions and avoiding restricted free agency next summer. DeRozan averaged 16.7 points per game for the Raptors last season. He left USC after his freshman season in 2009, and Toronto selected him with the ninth overall pick.

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