Toronto Raptors All-Star guard Scottie Barnes intends to sign a five-year maximum rookie extension that could be worth as much as $270 million, sources told ESPN on Monday.

Barnes’ agent, Bill Duffy of WME, met with Toronto executives Masai Ujiri and Bobby Webster on Sunday and the sides intend to have a signed deal when the league’s moratorium ends on July 6th, sources said.

The deal — the richest in Raptors history — guarantees Barnes $225 million and would escalate to the super-maximum should he make an All-NBA team, All-Defensive team or earn MVP honors. The deal is a statement that Barnes is indeed the franchise player and the young star that the organization plans to build its future around.

Barnes, who turns 23 in August, made his first All-Star appearance this past season and averaged 19.9 points, 8.2 rebounds, 6.1 assists, 1.3 steals and 1.5 blocks. Barnes and two-time Milwaukee Bucks MVP Giannis Antetokounmpo were the only NBA players to average at least one per game in all five of those statistical categories, according to ESPN Stats and Information research.

Barnes became the first player with 1,000 points, 75 steals and 75 blocks in a season since Chris Bosh in 2005-2005. He also led Toronto in total points, rebounds, assists and blocks this season — despite missing the final 22 games with a broken hand.

Barnes was the 2022 NBA Rookie of the Year after going No. 4 overall in the 2021 draft.

ESPN’s Tim Bontemps contributed to this report.