Chris Paul's agent plans to travel to New Orleans on Wednesday with the intention of completing a contract extension that would keep the All-Star and Team USA point guard with the Hornets for an additional three to five years.

Lance Young, a senior director of the sports marketing and management company Octagon, says he has spoken to Hornets general manager Jeff Bower by phone and they are in general agreement on the possible terms of an extension for Paul, who has one season remaining on his current contract.

Paul is seeking the maximum pay allowable under the league's collective bargaining agreement, or about 25 percent of the NBA salary cap with 10 percent raises going forward. Such a deal would pay Paul from $60 million to more than $80 million, depending on the length of the contract.