The Orlando Magic and center Nikola Vucevic have agreed on a four-year contract extension, ESPN reported.
Sources say that the deal is worth $53 million and will begin in the 2014-2015 season. The Orlando Sentinel reported Tuesday that both sides were finalizing the details on a new contract.
Vucevic is the fifth first-round pick from 2011 to reach an extension agreement before the Oct. 31 deadline. Cleveland Cavaliers' point guard Kyrie Irving, Denver Nuggets' forward Kenneth Faried and Phoenix Suns' twins Marcus and Markeiff Morris are the others.
Vucevic will turn 25 on Friday, and has proven himself a consistent source of double-doubles for the Magic. Orlando acquired the center as a part of the blockbuster four-team trade in August 2012 that sent Dwight Howard to the Los Angeles Lakers.
Along with Kevin Love, Joakim Noah, Zach Randolph and Howard, Vucevic is the only other player in the NBA to average at least 10 rebounds per game in each of the last two seasons.
Magic forward Tobias Harris is also eligible for an extension this month. If the two sides do not reach an agreement, Harris and other 2011 first-rounders without extensions will become restricted free agents in July 2015.
Other high profile players eligible for contract extensions include San Antonio's Kawhi Leonard, Golden State's Klay Thompson, Minnesota's Ricky Rubio, Charlotte's Kemba Walker, Chicago's Jimmy Butler, Cleveland's Tristan Thompson, Oklahoma City's Reggie Jackson and Milwaukee's Brandon Knight.
Vucevic averaged 14.2 points and 11.0 rebounds per game last year. Orlando finished 13th in the Eastern Conference with a record of 23-59.
