Report: Hornets finalizing 5-year max extension with LaMelo worth up to $260M

The Charlotte Hornets and guard LaMelo Ball are finalizing a five-year maximum rookie contract extension worth up to $260 million, sources told The Athletic's Shams Charania.

Ankle injuries hampered Ball's third NBA campaign, limiting him to 36 contests. He averaged 23.3 points, 8.4 assists, 6.4 rebounds, and 1.3 steals.

The Hornets drafted Ball with the No. 3 pick in 2020. Choosing professional opportunities over college, Ball played for Prienai of the Lithuanian Basketball League and the Illawarra Hawks of the National Basketball League, based in Australia and New Zealand.

Charlotte is undergoing a change in ownership, as NBA legend and majority owner Michael Jordan is selling his stake to a group led by minority owner Gabe Plotkin and Rick Schnall. The organization has not made the playoffs since 2016, the longest current drought in the league.

The Hornets finished with a 27-55 record and selected Alabama forward Brandon Miller with the second overall pick. Charlotte also added former Arkansas guard Nick Smith, international prospect James Nnaji, and UCLA guard Amari Bailey in the draft.