Blake Griffin and the Clippers have officially agreed to a five-year contract extension that could be worth as much as $95 million, the Los Angeles Times confirmed.

Griffin will see that much over the course of five-years if he is voted an All-Star starter again or named to a second All-NBA team next season under the "Derrick Rose Rule" in the new collective bargaining agreement. The rule allows a player finishing his rookie contract to make 30 percent of team's salary cap-up from 25 percent-if he's twice been voted an All-Star starter, twice been voted All-NBA or won an MVP award.

Another clause in the new CBA, allows every team one "designated player" who can get a five year maximum extension on his rookie contract.

Griffin was always going to be the Clippers' designated player, according to sources within the organization. Griffin, the only player on the Clippers' roster in line for such an extension and his place a league super-star established-he was the rookie of the year in 2011, as well as a two-time All-Star-he received the designation.

"Happy to officially sign my extension to (hash tag) clippernation for 5 more years. Can't wait. Thanks for all the support," Griffin tweeted.

Griffin signed the contract in Las Vegas, where he was training with the U.S. basketball team in preparation for the London Olympics.

He will earn $7.2 million next season.

Griffin's extension begins with the 2013-14 season. He would be able to opt out of the final season of the contract but is otherwise committed to the franchise through 2018.