Phoenix Suns superstar Devin Booker agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029-30 season, the highest annual extension salary in NBA history, CAA’s Jessica Holtz and Melvin Booker told ESPN on Wednesday.

Booker and Suns owner Mat Ishbia met Wednesday night in Las Vegas to finalize the contract, which cements the franchise’s leader of the organization moving forward and his commitment to the Suns’ vision for the future.

Booker’s annual extension salary ($72.5 million) surpassed Oklahoma City Thunder NBA MVP Shai Gilgeous-Alexander’s $285 million supermax extension carrying a $71.25 million average annual value for the richest ever, and he will now have a total of five years and $316 million on his Suns contract.

Booker, the No. 13 pick by the Suns in the 2015 NBA draft, has played all 10 NBA seasons in Phoenix and he now lands his third contract extension to reestablish his long-term future with the franchise. He has publicly and privately expressed the desire to play his career in Phoenix and bring a championship to the Suns.

The 28-year-old Booker had involvement late in the Suns’ head coaching search, meeting with prospective finalists and stamping the hiring of Jordan Ott.

Booker, a four-time NBA All-Star, two-time All-NBA selection, and two-time Olympic gold medalist for Team USA, last season became the Suns’ franchise career leader in points scored.

Booker has averaged at least 25 points in each of the past seven seasons, joining Milwaukee Bucks star Giannis Antetokounmpo as the only other NBA player to do so, according to ESPN Research. He has continued to grow his offensive game, averaging a career-high 7.1 assists last season while scoring 25.6 points and grabbing 4.1 rebounds.

Booker led the Suns to the NBA Finals in 2021 before losing to the Bucks in six games, and to the semifinals the following season. But the Suns had a disappointing 36-46 record last season and finished in 11th place in the Western Conference with the highest payroll in NBA history, leading to roster changes that included the blockbuster trade that sent 15-time NBA All-Star Kevin Durant to the Houston Rockets.