George is set to receive a $7 million bonus from the Indiana Pacers after being named to the All-NBA third team Wednesday, sources told ESPN.com.
The 24-year-old signed a five-year contract extension worth between $80 million and $90 million last September, and it’s set to kick in at the beginning of next season. He’ll earn the bonus under what has become known as the “Rose Provision,” an escalator bonus on some maximum deals.
George is the third player to hit the provision since it was established in the NBA’s collective bargaining agreement in 2011. It allows for any maximum contract player to receive a bonus if he wins an MVP award, gets voted to start in two All-Star games or is named to two All-NBA teams before his new deal begins. George now has been selected to two All-NBA squads.
The forward averaged a career-high 21.7 points, 6.8 rebounds and 3.5 assists this past season for Indiana. George also was voted to the NBA all-defensive first team Monday.
Derrick Rose and Blake Griffin are the only others to qualify for the “Rose Provision” bonuses since they were implemented three years ago.