Nicolas Batum and Hornets agree to five-year, $120 million contract

The Charlotte Hornets are keeping their most valuable swingman.

Nicolas Batum and that team have reached an agreement on a five-year, $120 million contract, a person with direct knowledge of the situation told Paste BN Sports.

The person spoke on the condition of anonymity because the deal can't be formally signed until the free agency moratorium lifts on July 7.

Looks like Batum was a fan of the agreement, too.

Batum entered free agency as one of the top available players after putting together the best season of his career. He averaged 14.9 points, 6.1 rebounds, 5.8 assists and shot 42.6% from the field.

This is a great move for the Hornets moving forward after emerging as one of the top teams in the Eastern Conference last season. They finished the year with 48 wins, the most since the 1999-00 season, before falling to the Miami Heat in Game 7 of the first round of the playoffs.

The Vertical first reported the deal.

Be sure to follow along with all of the free agency buzz from Paste BN Sports.

Contributing: AJ Neuharth-Keusch