Chis Paul set to sign record five-year max contract with Clippers

Chris Paul, arguably the best pure point guard of his generation, is likely to sign a five-year max contract with the Los Angeles Clippers next summer, according to several reports.

Paul, who owns a US$24 million (AU$32 million) player option for the 2017-18 season, is set to opt out of his contract and seek a fresh max contract -- in order to capitalise on the rising salary cap.

Since Paul will be entering his 13th season in the league, he stands to earn 35 percent of the salary cap (the maximum possible salary for any player in the league). And seeing as he turns 32 next May, the All-Star point guard could find it difficult to leave all that money on the table and entertain offers from other teams.

While the Clippers will be in a position to offer Paul the most lucrative, five-year contract, other interested suitors can offer CP3 a four-year contract. This would be Paul's final chance to cash in -- since he would be entering the final stage of his career.

According to NBC Sports, Paul's five-year max contract is projected to be close to US$195 million (AU$262 million) going by the projected salary cap for the 2017-18 season. This would go down as the most lucrative contract signed in NBA history.

The Clippers front office is set for an extremely busy summer in 2017. Besides Paul, Blake Griffin and J.J. Redick are also due to become free agents. Since the Clippers own the Bird Rights for all three players, they should be able to max out Griffin and Paul, besides signing Redick to a lucrative contract.

However, many analysts believe the 2016-17 season could determine the future of the three players. If the Clippers fail to get past the Golden State Warriors or the San Antonio Spurs in the playoffs, they could likely blow up the team or stand to lose at least one or two of the three soon-to-be free agents.

Clippers committed to Chris Paul

According to ESPN's Zach Lowe, Clippers owner Steve Ballmer is committed to bringing back Griffin and Paul. "Steve Ballmer, L.A.'s moneybags owner, has already said he'll pay the cost. Maxing out Griffin is a no-brainer, and the team expects Paul to demand the full five-year max (or whatever the longest possible deal ends up being in the revised collective bargaining agreement) to stick around, per several league sources.

"That would take him well past age 35. Gulp. Suitors will line up for Redick," reported Lowe, hinting that the sharpshooter could be the only free agent that Clippers stand to lose next summer.

Paul, in his 12-year career, is yet to advance past the second round of the playoffs. And as Lowe rightfully pointed out the forthcoming playoffs are Clippers' final chance to make some serious noise. "This may be the last, best chance for the cursed L.A. stepchild to bust through the second round and chase the sort of success they've never experienced."

Chris Paul is averaging 17.9 points, 8.8 assists and 5.2 rebounds this season. He leads the league in steals with 2.79 per game.