Restricted free agent forward P.J. Washington has agreed to a new three-year, $48 million contract to stay with the Charlotte Hornets, Lift Sports Management agent Kevin Bradbury and Washington Sports Group's Paul Washington Sr. told ESPN on Saturday.

Washington, 25, was the NBA's final unsigned restricted free agent this summer.

The agreement avoids a second Hornets forward signing a qualifying offer and becoming eligible for unrestricted free agency in 2025 -- something forward Miles Bridges did in July.

Washington averaged career highs in points (15.7) and 3-pointers (2.0) per game last season. He was the first Hornets player in history to average two 3-pointers and a block per game in a season, according to ESPN Stats & Information. Washington, the 12th overall pick in the 2019 NBA draft out of Kentucky, started 73 games for the Hornets last season.

Washington's career-best season included a 43-point performance against the Oklahoma City Thunder in March.