According to ESPN's Adrian Wojnarowski, shooting guard Devin Booker and the Phoenix Suns are nearing a five-year max extension worth $158 million.

Sources said that the Suns presented the offer to Booker in Los Angeles on Tuesday and both sides plan to finalize the agreement soon after the moratorium on July 6.

The 21-year-old Booker has quickly become the face of the Suns' franchise and continued to improve all facets of his game. He averaged a career-high 24.9 points per game on a career-best 43.2 per cent from the field, along with a career-best 38.3 per cent from the three-point line, adding 4.5 rebounds and 4.7 assists per game. Only Michael Jordan has averaged more points per game at 21-years-old or younger, when Jordan put up 28.2 PPG in 1984-85.

Booker was drafted by the Suns in the first round (13th overall) of the 2015 NBA Draft out of Kentucky. With the signing, he will form an exciting young core with this year's first overall pick, centre Deandre Ayton, 10th overall pick Mikal Bridges and 2017 fourth overall pick Josh Jackson.