Toronto Raptors All-Star guard Scottie Barnes intends to sign a five-year maximum rookie extension that could be worth as much as $270 million, sources told ESPN on Monday.

Barnes' agent, Bill Duffy of WME, met with Toronto executives Masai Ujiri and Bobby Webster on Sunday, and the sides intend to have a signed deal when the league's moratorium ends on July 6, sources said.

The deal -- the richest in Raptors history -- guarantees Barnes $225 million and would escalate to the supermaximum should he make an All-NBA team, All-Defensive team or earn MVP honors. The deal is a statement that Barnes is indeed the franchise player and the young star the organization plans to build its future around.

Barnes, who turns 23 in August, made his first All-Star appearance this past season and averaged 19.9 points, 8.2 rebounds, 6.1 assists, 1.3 steals and 1.5 blocks. Barnes and two-time Milwaukee Bucks MVP Giannis Antetokounmpo were the only NBA players to average at least one per game in all five of those statistical categories, according to ESPN Stats & Information research.

Barnes became the first player with 1,000 points, 75 steals and 75 blocks in a season since Chris Bosh in 2004-05. He also led Toronto in total points, rebounds, assists and blocks this season -- despite missing the final 22 games with a broken hand.

Barnes was the 2022 NBA Rookie of the Year after going No. 4 overall in the 2021 draft.

ESPN's Tim Bontemps contributed to this report.