New Toronto Raptors star Brandon Ingram has agreed to a three-year, $120 million contract extension with the franchise, including a player option in 2027-28, Klutch Sports CEO Rich Paul and agents Shy Saee and Mike George told ESPN.

Ingram, 27, was traded by the New Orleans Pelicans to the Raptors last week -- and now arrives in Toronto with a lucrative extension that keeps him out of free agency this summer. The new deal shows a commitment on both sides, as the Raptors lock in a shot creator and offensive force to work with Scottie Barnes, Immanuel Quickley and RJ Barrett for the next several years.

Ingram has been sidelined since Dec. 7 with a significant ankle sprain but is working toward a return in the second half of this season.

After Ingram's six seasons in New Orleans, the Pelicans traded him for Bruce Brown, Kelly Olynyk, one first-round pick and one second-round pick. Ingram, 27, ranks fifth in career points in Pelicans history and averaged 20 points for the season six times, tied with Anthony Davis for most ever for the team.

In Ingram, the Raptors have acquired a dynamic option next to Barnes, a priority for the franchise's front office. Ingram is one of six NBA players to average 20 points, 5 rebounds and 5 assists in each of the past four seasons. As an inside the 3-point line shooter, Ingram ranks as one of the league's best -- trailing only DeMar DeRozan for most midrange shots made per game.

According to Second Spectrum, the Raptors rank last in the NBA in made off-the-dribble jumpers per game this season. Ingram ranks sixth-best among NBA players in that category. He is also one of four players to make at least 1,000 2-point jumpers over the past six seasons, along with DeRozan, Devin Booker and Kevin Durant.

In 2019-20, his first season with the Pelicans, Ingram was an NBA All-Star and won Most Improved Player of the Year. New Orleans acquired Ingram as part of a blockbuster trade that sent Davis to the Lakers in June 2019.