The Dallas Mavericks and guard Kyrie Irving have agreed to a three-year, $119m contract, multiple media outlets reported Tuesday.

Irving will decline his $43m player option for next season and ink the extended contract when NBA free agency opens in July.

Irving is still recovering from knee surgery after he tore his left ACL on March 3.

It remains unclear if Irving will play in the 2025-26 season, but ESPN has reported that Irving's camp is optimistic he could return in January.

BREAKING: Dallas Mavericks nine-time NBA All-Star Kyrie Irving is declining his $43 million player option and intends to sign a three-year, $119 million contract with the franchise, sources tell ESPN. The deal includes a player option in the 2027-28 season. pic.twitter.com/hduY1vEVVP

— Shams Charania (@ShamsCharania) June 25, 2025

Irving has become a franchise cornerstone in Dallas, and his shot-creating abilities became crucial once the Mavericks traded Luka Doncic for Anthony Davis.

News of Irving's new contract came on the eve of the 2025 NBA Draft, where the Mavs are expected to select Duke forward Cooper Flagg with the No. 1 overall pick.

A nine-time All-Star selection, Irving has spent two and a half seasons in Dallas, where he has averaged 25.5 points, 4.9 rebounds, and 5.1 assists over 128 games.