BY ALEX KAY

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 The Los Angeles Clippers haven’t locked Chris Paul up for the long term quite yet, but the superstar point guard is reportedly ready to sign a five-year, $107 million contract extension with the club. 

According to ESPN Los Angeles’ Ramona Shelburne, the eight-year veteran has made it clear that he will agree to a deal shortly. The team has been able to offer one to him as of 12:01 a.m. ET on Monday morning.

While CP3 can’t officially ink his name to any contract until July 10—after the league-imposed moratorium on signings is lifted—he can put any lingering doubts to rest by verbally approving the terms of the deal.

This finally brings closure to a saga that began back in December of 2011, when the Clips acquired Paul from the then-New Orleans Hornets.

The team traded Eric Gordon, Chris Kaman, Al-Farouq Aminu and a 2012 first-round draft pick—which became Austin Rivers—to NOLA in exchange for CP3 and an agreement that the star would opt into the final year of his contract.

While there was no guarantee that CP3 would remain in Tinseltown past the 2012-13 campaign, it became apparent that the organization needed to retain him to remain relevant.

In order to insure that the 28-year-old remained loyal, the franchise brass made a drastic move last week.

After a demoralizing defeat to the Memphis Grizzlies in the first round of the 2013 playoffs, the Clippers decided to part ways with former coach Vinny Del Negro—a decision believed to appease Paul.

Then the club organized a trade for the Boston Celtics’ 2008 championship-winning coach, Doc Rivers. That seems to have been the deciding factor, as CP3 has been considered a lock to remain in L.A. ever since Rivers came aboard.

Expect to hear more on this in the coming hours, as soon as Paul ends the speculation and finally agrees to his contract extension.

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