LeVert, who turned 25 on Sunday, was eligible for his rookie extension as a member of the NBA's draft class of 2016.
No better feeling to start off Year 25. Brooklyn, I can't wait for what's next. pic.twitter.com/AyDj4yDqx4— Caris LeVert (@CarisLeVert) August 26, 2019
LeVert's extension starts at $16.2 million in 2020-21 and escalates to $17.5 million and $18.8 million in the next two years, ESPN's Bobby Marks reported.
The Nets announced Monday they had signed LeVert to a multiyear extension but did not disclose terms.
The deal gives LeVert security and a chance to return to free agency or negotiate an extension before his 28th birthday. The Nets now have their core of top players -- LeVert, Kevin Durant, Kyrie Irving, DeAndre Jordan and Spencer Dinwiddie -- signed through the 2021-22 season.
Despite missing 42 games with a dislocated right ankle last season, LeVert showed All-Star potential for the Nets in the franchise's run to the playoffs. His talent and development in three NBA seasons with the Nets played a prominent role in attracting free agents Irving and Durant to the Nets this summer.
Before the ankle injury, LeVert averaged 18.4 points for the Nets in the early season --- and returned to top form in the playoffs, averaging 21 points in the five-game series with Philadelphia. For the season, LeVert averaged 13.7 points, 3.9 rebounds and 3.8 assists.
LeVert was Sean Marks' first draft pick as the Nets' general manager, 20th overall out of Michigan in 2016. The Nets traded forward Thaddeus Young to get the pick and selected LeVert, who dropped on draft boards because he had two consecutive college seasons ended by foot injuries.