Sources: Blake Griffin, Clippers agree on five-year, $95 million deal

Blake Griffin and the Los Angeles Clippers formally agreed Tuesday to the five-year max extension that the team offered when the free-agency negotiating period opened July 1, league sources told CBSSports.com.

The deal will fall under the so-called "Derrick Rose Rule," meaning Griffin's extension will start at 30 percent of the cap in 2013-14 -- provided he reaches certain benchmarks. Under the new collective bargaining agreement, a player with less than seven years of service can receive a max contract starting at 30 percent of the salary cap if he's voted MVP of the league, All-NBA first, second or third team twice or an All-Star starter twice.

Though the cap figures by which Griffin's deal will be governed aren't known yet, based on current projections the deal is estimated to be worth as much as $95 million. Griffin can opt out of the contract after the fourth year, a source said.

Griffin, 23, was named second-team All-NBA last season and has made the All-Star team two years in a row, including as a starter last season.

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