Michael Porter Jr has agreed to a five-year contract extension with the Denver Nuggets that could pay him up to $207million.  

Porter's agents, Priority Sports, announced the agreement on social media on Monday. 

According to an ESPN report that was retweeted by the agency, Porter's extension will max out if he makes the All-NBA first, second or third team this season. If not, he will make $172m over the course of the deal.  

Porter has had recurring back problems that have limited him to 116 regular-season games over three NBA seasons, but the Nuggets apparently believed his production and potential were worth the risk. 

The 23-year-old averaged 19.0 points and 7.3 rebounds in 31.3 minutes per game last season – nearly doubling his average minutes from the prior season after sitting out all of 2018-19 following surgery.  

The hope is that he is just beginning to tap into his potential as a match-up nightmare who can shoot from anywhere on the floor.  

Porter has shot better than 40 per cent from three-point range in his first two NBA seasons (42.2 and 44.5). The only other active players to do that are Golden State's "Splash Brothers", Stephen Curry and Klay Thompson.  

Porter is the fourth member of the 2018 NBA Draft class to reach a max extension this off-season, following Luka Doncic with the Dallas Mavericks, Trae Young with the Atlanta Hawks and Shai Gilgeous-Alexander with the Oklahoma City Thunder.