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Pacers' George inks extension

Indianapolis, IN (Sports Network) - The Indiana Pacers have signed All-Star swingman Paul George to a multi-year contract extension.

Financial terms were not disclosed, but George was eligible to earn as much as $90 million on a five-year deal under the collective bargaining agreement.

"I want to thank the Pacers for believing in me when they drafted me," said George on Wednesday. "To continue my career with the Pacers was a very easy decision. We have great ownership, a great front office, great fans and I'm blessed with great coaches and great teammates. I use great a lot because that is what this franchise is and I'm hopeful we can be part of great things in the future."

George earned his first All-Star nod last season and was named the NBA's Most Improved Player after averaging 17.4 points, 7.6 rebounds and 4.1 assists in 79 games. He helped Indiana to a Central Division title and a trip to the Eastern Conference Finals.

"Paul represents not only what our team and franchise is about, but what a professional athlete should be," said Pacers president Larry Bird in a statement Wednesday. "He strives every day to be the best he can be, as a player, as a teammate, as a person and as a representative of this franchise."

The Pacers selected George with the 10th overall pick in the 2010 draft. The 23-year-old Fresno State product averaged 7.8 points as a rookie and 12.1 points in his second season.

09/25 11:41:30 ET