Trae Young and the Washington Wizards have agreed to a four-year, $212 million contract extension. Young declined his $49 million player option to become a free agent and sign an entirely new contract. The amount represents the most Young was eligible to sign in free agency with a rival team.

The Wizards acquired Young from the Atlanta Hawks in January.

Young played in only five games with the Wizards following his trade, averaging 15.2 points, 3.0 rebounds and 6.2 assists in 20.7 minutes.

Young was initially rumored to be re-signing with the Wizards on a three-year, $120 million deal. Young was also going to possibly take meetings with rival teams when free agency was set to open on June 30.

The Wizards will add to their core with the first overall pick in Tuesday's draft where they are expected to choose between AJ Dybantsa and Darryn Peterson.