Los Angeles Lakers forward Anthony Davis has agreed on a three-year, $186 million maximum contract extension, tying him to the franchise through 2028 for a total of $270 million, Klutch Sports CEO Rich Paul told ESPN on Friday.

Davis' deal is the richest annual contract extension in NBA history, averaging $62 million a season.

Davis, who had two years and $84 million left on his contract, became eligible to sign the three-year extension on Friday, and Lakers general manager Rob Pelinka and Paul moved quickly to complete a deal.

Along with LeBron James, Davis remains a cornerstone of a team that advanced to the Western Conference finals a season ago. He averaged 26 points, 12.5 points and two blocks -- shooting a career-high 56% -- last season.

Davis, a four-time All-NBA first-team player, has averaged 25 points and two blocks in a season five times -- the third-highest total behind only Shaquille O'Neal and Kareem Abdul-Jabbar, according to ESPN Stats and Information research.

During the 2023 playoffs, Davis became the third Lakers player with 50 blocks in a single postseason, behind only O'Neal and Abdul-Jabbar.

Davis, 30, arrived in a blockbuster 2019 trade with the New Orleans Pelicans and, along with James, helped deliver a 2020 NBA championship to the Lakers.

Davis and James had their contracts running concurrently after both signed new deals in the aftermath of the 2020 title.

Davis' new extension, however, creates a bridge beyond James' current commitment to the franchise. James, who is entering his 21st season, has a player option for the 2024-2025 season.

Already this summer, the Lakers signed Rui Hachimura, Austin Reaves and Gabe Vincent to free agent deals that run through 2025.

"Couldn't think more highly of Anthony Davis as a Laker and as a player," Pelinka said recently "He's helped deliver a championship to our franchise. He's been an incredible captain and leader."

ESPN's Dave McMenamin contributed to this report.