The Kings have made their biggest move of the offseason, one that will hopefully pay dividends for years to come.

The team has reportedly agreed to a five-year maximum extension with De’Aaron Fox, per reporting from Shams Charania. The deal is currently worth $163 million over five years, but could go up to $196 million if Fox meets certain incentives.

Sacramento Kings young star De'Aaron Fox has agreed to a five-year, $163M maximum extension, with clause to reach the $195.6M super max, sources tell @TheAthleticNBA @Stadium.

Deal negotiated by his agent @chrisgaston_ of @FamFirstSports.

— Shams Charania (@ShamsCharania) November 21, 2020

Known as the Rose Rule, players with under seven years of experience can qualify for a 30 percent maximum contract rather than the 25 percent for their salary level if they meet certain incentives, like making an all-NBA team or winning MVP. It is not known at this point what Fox has to do to trigger the higher salary, but at least the option is available.

It also unclear right now if Fox will have a player option on the final year of that contract. Other than that, however, this is the most the Kings could have offered Fox, and it firmly solidifies the point guard as the face of the franchise going forward. That designation was already clear to anyone who was paying attention, but now the Kings have put their money where their mouth is.

Congrats to De’Aaron. This is an incredible accomplishment, as Fox is reportedly the first player in his draft class to receive the max extension, though Jayson Tatum and Donovan Mitchell, among others, should be following shortly. This is Fox’s team now. Hopefully, he can be the leader the team needs in a new era of Kings basketball.

UPDATE: Per Bobby Marks, here are the terms of Fox’s deal.

Here are the numbers on the De'Aaron Fox extension

2021/22 $28.1M
2022/23 $30.4M
2023/24 $32.6M
2024/25 $34.8M
2025/26 $37.1M

$163M that could increase if the cap goes north of $112M and Fox reaches All-NBA:

30%- 1st team
28%- 2nd team
26%- 3rd team

— Bobby Marks (@BobbyMarks42) November 21, 2020

Fox’s deal becomes a 30 percent max if he makes first-team all-NBA next season, a 28 percent max if he makes second-team all-NBA, and a 26 percent max if he makes third-team all-NBA. There does not appear to be a player option.