Mavericks owner Mark Cuban said Monday that the team has opened discussions with Dirk Nowitzki on a possible contract extension.

Nowitzki has the option to terminate the final year on his contract if he does so by July 1.

Cuban would not elaborate on whether a three-year extension might already be on the table.

Under the current collective bargaining agreement, a three-year deal is the most Dallas could offer.

The maximum value would be $75 million.