Adrian Wojnarowski breaks down the terms of Steph Curry's record-breaking deal with the Warriors and how Rudy Gay is the Warriors' backup plan if Andre Iguodala leaves. (2:14)

Two-time NBA MVP Stephen Curry has agreed to a five-year, $201 million extension -- the richest contract in league history -- with the Golden State Warriors, his agent Jeff Austin of Octagon told ESPN.

Curry is the first NBA star who will sign a supermax contract, the crossing of a $200 million threshold that eventually will become the norm for the NBA's biggest superstars.

Golden State general manager Bob Myers said Friday that the Warriors will finalize the contract once the free-agency moratorium ends Thursday.

An eight-year veteran, Curry has been the foundational star for the Warriors, who recently won their second NBA championship in three years.

The Golden State point guard had been playing on a four-year, $44 million contract, an extension that he signed when there were grave concerns about the sturdiness of his ankles.

Curry's new deal received accolades from LeBron James, whom he has faced in the past three Finals.

While Curry officially was one of the offseason's top unrestricted free agents, there was never a doubt he would return to the Warriors. Golden State owner Joe Lacob made that much clear after his team won the NBA title last month.

"We're going to do whatever it takes to keep Steph here and happy," Lacob told the Bay Area News Group. "And I know he wants to be here and we want him here. So I do not anticipate any issues with him staying."

Curry has emerged as one of the NBA's best players -- and arguably the greatest pure shooter of all time -- since Golden State drafted him seventh overall in 2009 out of Davidson.

Now 29, Curry holds career averages of 22.8 points, 6.8 assists, 4.4 rebounds and 1.8 steals per game over his eight seasons.

He has led the league in 3-pointers for five consecutive seasons, and his career total of 1,917 ranks 10th all time. His career 3-point shooting percentage is 43.8, the third-highest all time.

As Curry's shooting has awed, the accolades have rolled in. He is a two-time league MVP, a four-time All-Star and a three-time All-NBA first-team performer.

He was ranked No. 1 on the list of top available free agents this offseason by ESPN's Kevin Pelton.

The Associated Press contributed to this report.