Agent Bob Myers confirmed to The Associated Press late Wednesday night that Roy agreed in principle to a contract at the NBA maximum salary. The fifth year is at Roy's option. Specific numbers won't be available until the NBA salary cap is set next July. This year a starting max contract would be worth $82 million over the course of five years. However, next year the cap is expected to go down between 5 and 10 percent. That means the value of Roy's contract will go down, too.
Myers said the Blazers are expected to hold a news conference on Friday to announce the deal.
The 25-year-old Roy will earn just under $4 million this season, the final year of his rookie contract. The new deal is likely to net him around $14 million for the 2010-11 season, and he will receive 10.5 percent raises on his base salary each season from 2011-2012 through the end of the deal.
Myers said even though it is rare for players today to remain with one team for their entire careers, Roy "is one of the unique players to have a chance to have that sort of relationship with one team."
The Blazers have been in an on-again, off-again contract negotiation throughout the month of July. At times, Roy's camp reportedly was frustrated with the Blazers' unwillingness to offer Roy a maximum contract. It appears Roy ultimately got what he wanted.
Roy led the Blazers with 22.6 points and 5.1 assists per game last season, his third in the league. He was acquired from the Minnesota Timberwolves in a draft-day trade for Randy Foye in 2006 and went on to win NBA Rookie of the Year honors.
The high-scoring guard helped the Blazers go 54-28 last season before losing in the first round of the playoffs. Portland was 21-61 the season before Roy arrived.
Now the Blazers are turning their full attention to extending the player who was drafted four spots ahead of Roy -- LaMarcus Aldridge. A source close to the situation told ESPN.com that Aldridge and the team were "progressing" toward a deal.
Chad Ford is a senior NBA writer for ESPN.com. Information from The Associated Press was used in this report.