Discussions on a contract extension for Pistons forward Tayshaun Prince are inching closer to an agreement, Pistons president Joe Dumars said Sunday.

"I guess if you have to characterize things, it would be that I'm optimistic that we're going to get it done," he said.

Prince is entering the fourth year of his rookie contract and will make approximately $1.3 million this season. The Pistons have until the end of this month to sign him to an extension, otherwise he will become a restricted free agent after the season.

Dumars said that he and Prince's agent, Bill Duffy, are on the same page in terms of getting the extension done.

Prince, who averaged a career-best 14.7 points, 5.3 rebounds and three assists last season, has said in the past he would prefer not to roll the dice on the free-agent market.

Duffy hasn't returned phone calls and Dumars refused to be specific about the terms of the deal, but it is believed that Prince will be getting a five-year extension worth between $45 million and $50 million.