Dirk Nowitzki has agreed to a new contract with the Dallas Mavericks and he's taking a pay cut.
According to ESPN sources, the deal is worth $25 million over three years. Earlier in the free-agent period, the contract was reportedly worth $30 million over the same term, but Nowitzki took a cut to help Dallas strengthen the team.
They were able to sign Chandler Parsons to an offer sheet worth $45 million over three years, that the Houston Rockets could not afford to match.
The 36-year-old has played his entire 16-year career in Dallas and averaged 21.7 points, 6.2 rebounds and 2.7 assists over 80 games in 2013-14.