Damian Lillard was already under contract with the Trail Blazers through the 2023-24 season, but that didn't stop him from landing a massive new contract extension this offseason.
The soon-to-be 32-year-old has agreed to sign a two-year extension with the Trail Blazers, according to multiple reports. Lillard played in just 29 games last season before being shut down with an abdominal injury. When he did suit up, though, he averaged 24.0 points, 7.3 assists and 4.1 rebounds per game.
When the Trail Blazers traded away stalwart CJ McCollum last season, many thought that move would mark the end of the Lillard era, especially since his name has been mentioned in trade rumors for multiple seasons. However, Lillard has always stated that he'd like to remain with the Trail Blazers as long as they are able to put a competitive team on court.
They made a move for Jerami Grant before the NBA Draft and re-signed Jusuf Nurkic and Anfernee Simons, who had a breakout 2021-22 campaign. With this extension, the Trail Blazers have shown that they are focused on making the team competitive once again.
How much will Lillard be paid? The Sporting News breaks down his deal.
Damian Lillard contract details
Lillard has reportedly signed a two-year, $122 million extension with the Trail Blazers. That extension will kick in ahead of the 2025-26 season.
His previous deal ran through the 2024-25 season. Lillard will accept his player option for that season as part of this new agreement, per ESPN's Bobby Marks.
Here is the Lillard contract breakdown:
— Bobby Marks (@BobbyMarks42) July 8, 2022
Current contract
22-23: $42.5M
23-24: $45.6M
24-25: $48.8M
Extension*
25-26: $58.5M
26-27: $63.3M (P)
The extension numbers could be adjusted based on the salary cap in 2025-26. It cannot exceed 35% of the cap for that season.
How Damian Lillard's contract compares to other NBA point guards
Lillard had the fourth-highest salary of any point guard in 2021-22, earning a cool $39.3 million last season. However, according to Spotrac, Lillard is set to earn $42.5 million next season, bumping him up to third on the list behind Stephen Curry and Russell Westbrook.
| Rank | Player | Team | Salary |
| 1. | Stephen Curry | Golden State Warriors | $48.1 million |
| 2. | Russell Westbrook | Los Angeles Lakers | $47.1 million |
| 3. | Damian Lillard | Portland Trail Blazers | $42.5 million |
| 4. | Trae Young | Atlanta Hawks | $37.1 million |
| 5. | Luka Doncic | Dallas Mavericks | $37.1 million |
| 6. | Kyrie Irving | Brooklyn Nets | $36.9 million |
| 7. | Ben Simmons | Brooklyn Nets | $35.5 million |
| 8. | Jamal Murray | Denver Nuggets | $31.7 million |
| 9. | D'Angelo Russell | Minnesota Timberwolves | $31.4 million |
| 10. | Shai Gilgeous-Alexander | Oklahoma City Thunder | $30.9 million |
Highest-paid players in the NBA
Lillard will earn the same salary as Giannis Antetokounmpo and Kawhi Leonard next season, according to Spotrac's estimates. His 2026-27 salary ($63.3 million) would be the highest for a single season in NBA history.
| Rank | Player | Team | 2022-23 Salary |
| 1. | Stephen Curry | Golden State Warriors | $48.1 million |
| 2. | Russell Westbrook | Los Angeles Lakers | $47.1 million |
| 3. | LeBron James | Los Angeles Lakers | $44.5 million |
| 4. | Kevin Durant | Brooklyn Nets | $44.1 million |
| 5. | Bradley Beal | Washington Wizards | $43.3 million |
| 6. | Paul George | Los Angeles Clippers | $42.5 million |
| 7. | Giannis Antetokounmpo | Milwaukee Bucks | $42.5 million |
| 8. | Kawhi Leonard | Los Angeles Clippers | $42.5 million |
| 9. | Damian Lillard | Portland Trail Blazers | $42.5 million |
| 10. | Klay Thompson | Golden State Warriors | $40.6 million |
