Chris Paul informed the Clippers on Monday that he is re-signing with the team.
Paul made the announcement to the rest of the NBA world via his Twitter feed:
I'M IN!!! #CLIPPERNATION
— Chris Paul (@CP3) July 1, 2013
Paul will sign a maximum five-year deal worth $107.3 million with the Clippers. But the All-Star point guard can’t sign his contract until the NBA lifts its moratorium on July 10.
He’ll earn $18.8 million in the first year of the deal.
NBA executives said it had always been a formality for Paul to remain with the Clippers after the hiring of Doc Rivers as coach and senior vice president of basketball operations with the team last week.
Paul didn’t even talk to any other teams when the free-agency period opened at 9:01 p.m. Sunday.