The contract offer, known as "the supermax" as part of the new collective bargaining agreement, is possible because Wall made the All-NBA team this past season.
Wall will sit down and discuss the offer with his agent and family over the next week as he considers whether to accept. Wall has two years and $37 million left on his current deal. This extension would lock him in with the Wizards until 2022-23.
With a decision that could affect the rest of his prime years, Wall is taking a measured approach and will spend time vetting the decision.
The Wizards have two key free agents, Otto Porter and Bojan Bogdanovic, and potentially face the luxury tax if they retain both players. However, Wall is not basing his decision on the Wizards' moves in free agency, sources said.
The Washington Post earlier reported the Wizards planned to make Wall their "designated player" with a supermax offer.