NBA notes: Blazers extend PG Damian Lillard

A person with knowledge of the negotiations told The Associated Press that Damian Lillard has agreed to terms with the Portland Trail Blazers on a five-year extension worth more than $120 million.

The two sides finished the negotiations on Thursday.

Lillard’s contract could be worth up to $129 million, depending on the salary cap.

Lillard has made two All-Star teams in his first three seasons in the league. He won the rookie of the year award in 2012. He averaged 21.0 points and 6.2 assists for the Blazers last season.

The deal cannot be signed until July 9, per league rules.

Spurs retain Duncan

Tim Duncan is returning to San Antonio for a 19th season.

Duncan tells the San Antonio Express-News that “I’ll be on the court next year.”

Many expected him to return, particularly since he was coming off such a strong season. Duncan averaged 13.9 points, 3.0 assists and 2.0 blocks and earned third team All-NBA and second team All-Defense honors.

Wade back with Heat

A person familiar with the negotiations says Dwyane Wade is staying with the Miami Heat.

The person says Wade informed the Heat he will accept a one-year offer to re-sign for $20 million for next season.

An 11-time All-Star, Wade averaged 21.5 points this past season.

Suns, Pistons trade

The Phoenix Suns have traded Marcus Morris, Danny Granger and Reggie Bullock to the Detroit Pistons for a future draft pick, a person with knowledge of the situation told The Associated Press. The move was very likely a bid to clear salary space to sign free agent LaMarcus Aldridge.

The Suns met with Aldridge, one of the top available NBA free agents this summer, on Wednesday after signing former Dallas Mavericks forward Tyson Chandler and re-signing guard Brandon Knight.

Bucks land Monroe

Agent David Falk says center Greg Monroe has chosen the Milwaukee Bucks over other big-market suitors like the New York Knicks and Los Angeles Lakers.

Yahoo Sports first reported the deal, which is for three years and $50 million. Monroe has a player option on the final year of the deal.

He averaged 15.9 points and 10.2 rebounds for the Detroit Pistons last year.

Around the league

Forward Ed Davis will sign a 3-year, $20 million contract with the Blazers. … The Pelicans and center Omer Asik agreed on a five-year deal worth a minimum of $44 million.