The Toronto Raptors and point guard Immanuel Quickley intend to agree on a five-year NBA contract that could be worth up to $175 million, a person with knowledge of the discussions said Friday.

Final terms were still be worked out, though the basic parameters of the agreement are done, said the person who spoke to The Associated Press on condition of anonymity because the discussions were not to be revealed publicly.

ESPN first reported the agreement, which cannot be executed until the offseason moratorium is lifted by the league on July 6.

READ: NBA: Raptors, Scottie Barnes agree on $225M extension

It is the second massive deal that the Raptors have essentially struck in recent days, the other being the max extension to Scottie Barnes — one that will be worth at least $225 million and could reach $270 million over five seasons.

And the agreement with Quickley makes clear that he’s another significant part of Toronto’s rebuilding plan.

Quickley was traded to Toronto in late December as part of the move that also brought RJ Barrett to the Raptors and sent OG Anunoby to the New York Knicks. Quickley started all 38 of his appearances with the Raptors, averaging 18.6 points and 6.8 assists in those games.

Quickley scored 25 or more points 11 times last season; 10 of them came after he was traded to Toronto. He had six or more assists on 24 occasions; 22 of those came after the trade.

Later Friday, the Raptors announced they have exercised the $23 million team option on the contract of wing Bruce Brown for the coming season. Brown averaged 10.8 points this past season.