The Indiana Pacers announced Wednesday they have signed veteran guard/forward Paul George to a multi-year contract extension.

The 6-7, 225-pound George is considered one of the rising stars in the NBA. Last season, his third in the NBA, George averaged 17.4 points, 7.6 rebounds, 4.1 assists and 1.8 steals per game. He made his first All-Star appearance as a reserve for the East in the NBA All-Star Game, was named the NBA’s Most Improved Player while also being named to the All-NBA third team and the All-Defensive second team. George was the Pacers’ No. 1 draft pick (10th overall) in the 2010 draft.

"I want to thank the Pacers for believing in me when they drafted me,” George said in a statement. “To continue my career with the Pacers was a very easy decision. We have great ownership, a great front office, great fans and I’m blessed with great coaches and great teammates. I use great a lot because that is what this franchise is and I’m hopeful we can be part of great things in the future.”

"Paul represents not only what our team and franchise is about, but what a professional athlete should be,” President of Basketball Operations Larry Bird said. “He strives every day to be the best he can be, as a player, as a teammate, as a person and as a representative of this franchise."

Larry Bird hinted a contract extension is close between the Indiana Pacers and Paul George, but he says no deal has been finalized.

“That’s why I’m not playing golf today,” Bird said Monday. “I’m going back to the office to work on it.”

Bird said he had not seen the Yahoo! report and declined to comment on it. When asked if the length (five years) and financial figures ($90-plus million) were correct, Bird replied: “Never heard that. If I did, I wish it was my number.”

“The number has to be a number we both like,” Bird said. “That's what it's all about. It's all about money. He wants to be here. He's told me that a million times. We want him here. Let's just find a number that works for both.”

The Indiana Pacers and Paul George are finalizing a five-year, $90 million-plus maximum contract extension, according to league sources.

George is expected to sign the deal this week.

A member of the 2010 draft class, George has until Oct. 31 to agree upon an extension with the Pacers to avoid restricted free agency next summer.

George averaged 17.4 points, 7.6 rebounds and 4.1 assists per game last season, his third in the NBA.

Danny Granger missed most of last season with knee issues, but he is expected to return this season and senses that the Indiana Pacers are again legitimate title contenders.

Granger handled the brunt of the Pacers' offensive load in past seasons, prior to the emergence of Paul George. The 30-year-old is looking forward to George -- and teammates like Roy Hibbert and George Hill -- to take additional pressure off him.

“[George] takes a lot of the pressure away from me,” Granger admitted. “I’ve carried a lot of it for so many years and I’m older now, I’m 30, and I tell Paul and George and all them, ‘Man, when I was ya’ll age.’ It takes a lot of pressure off of me. He can create and do his things. And Paul, he’s on his way.”

Granger is confident he can co-exist with George.

Paul George has publicly said he will sign a long-term extension with the Indiana Pacers.

“(A long-term contract) is going to get done,” George said. “There will be a deal signed and sealed on the table before the season. We’re (George and Pacers management) on the same page.”

George would become a restricted free agent next offseason if he doesn't sign an extension.

During the summer, George told ESPN radio that it would be difficult not to come to the Los Angeles Lakers, his hometown team, if Kobe Bryant recruited him personally.

“Honestly, I love it here," said George of remaining with Indiana. "I want to be here. It’s a great place. There are no distractions. I can stay focused. It’s all about basketball here. I can stay focused and do my job.”

The Indiana Pacers have signed free agents Ron Howard and Darnell Jackson.

Howard is a 6-5 guard-forward who played with the Fort Wayne Mad Ants of the NBA Development League last season.

Jackson is a 6-8 forward who played with the Reno Bighorns of the D-League last season. He has played with Cleveland, Milwaukee and Sacramento in the NBA.

Ron Howard is set to sign a non-guaranteed contract with the Indiana Pacers.

Howard was one of the D-League's best point guards last season.

Free agent forward Rasual Butler has reached agreement on a non-guaranteed contract with the Indiana Pacers, agent Joel Bell told RealGM.

Butler played for the Pacers’ summer league team in July and averaged 6.2 points and three rebounds in 13.8 minutes per game. At 6-foot-7, Butler established himself as a strong outside shooter and positive presence over 10 seasons in the NBA – his most recent coming in 2011-12 with the Toronto Raptors.

Despite the deal being non-guaranteed, Butler is expected to receive a shot to battle for his standing in training camp and preseason.

Butler, 34, also has played with the Miami Heat, New Orleans Pelicans, Los Angeles Clippers and Chicago Bulls over his career, averaging 8.2 points on 35.8 percent three-point shooting and 2.6 rebounds. He was originally the No. 53 pick in the 2002 NBA draft and has worked for opportunities to get back in the league through the D-League and summer league.