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Paul George to sign max contract with Pacers on Wednesday, according to report

George will be the Pacers' "Designated Player" and will have the opportunity to qualify for the "Derrick Rose Rule."

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Paul George will sign his five-year maximum contract extension on Wednesday, according to Adrian Wojnarowski and Marc Spears of Yahoo! Sports. The Pacers will hold a press conference to announce the deal.

It was reported earlier in the week that the two sides were finalizing an agreement that could potentially be worth over $90 million. George will become the Pacers' one "Designated Player" with this new contract, and he'll also have the opportunity to qualify for the "Derrick Rose Rule."

If George is named to the All-NBA Third Team or higher, the first year of his contract will be worth up to 30 percent of the salary cap rather than the standard 25 percent for max rookie scale extensions. George could also qualify for that hike by winning MVP.

George was selected to the All-NBA Third Team last season after averaging 17.4 points, 7.6 rebounds and 4.1 assists. The 23-year-old stepped his game up even further in the postseason, leading the Pacers just one game shy of the NBA Finals.

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Paul George gets his max contract