New Orleans Pelicans forward Anthony Davis is eligible for a contract extension starting July 1 and according to sources the Pelicans aim to give him a five-year contract around $140 million.

ESPN reports the exact numbers in the deal depend on the NBA salary cap. The team has until Oct. 31 to get Davis to agree to the contract.

Since Davis was voted by fans to start in the February NBA All-Star Game, he should get All-NBA first-team honors after votes are announced in a few days and the Pelicans can start his deat at 30 percent of the NBA salary cap, instead of 25 percent.

Thursday, Davis came in fourth for the NBA Defensive Player of the Year.

Click here to read the full ESPN story.