The Spurs posted a video of the signing on their social media accounts, confirming a multi-year extension.

ESPN reported that the deal is worth $252 million over five years, the maximum rookie extension permitted under NBA rules. It also includes a player option for the fifth season, allowing Wembanyama to either opt out or remain under contract.

Earlier in the day, the 22-year-old Frenchman hinted at the announcement in a message posted to the "Spurs Family" account on X.

The 2.24-metre centre averaged 25.0 points, 11.5 rebounds and 3.1 assists per game last season, along with 3.1 blocks—the best mark in the league—and 1.0 steal, as the Spurs reached the NBA Finals before losing to the New York Knicks.

Wembanyama was unanimously named the NBA Defensive Player of the Year and led the Spurs to the league's second-best regular-season record at 62-20. He then guided the team past Portland, Minnesota and Oklahoma City in his first playoff campaign to reach the Finals.