The Get Up! crew weighs in on the Phoenix Suns nearing a 5-year, $158 million max extension with Devin Booker. (1:36)

Devin Booker and the Phoenix Suns are progressing toward finalizing a five-year, $158 million maximum contract extension as soon as this weekend, league sources told ESPN. The Suns presented the offer to Booker in Los Angeles on Tuesday, sources said.

Both sides plan to finalize the agreement shortly after the conclusion of the moratorium on Friday, league sources said.

Booker, 21, has rapidly developed into the Suns' cornerstone star and the franchise's hope to lead it out of the lottery and back to the NBA playoffs.

Devin Booker was the Suns' first-round draft pick (13th overall) in 2015. AP Photo/Chris Pizzello

Booker averaged 24.9 points and 22.1 points in his second and third NBA seasons for the Suns. He has been general manager Ryan McDonough's most decorated draft pick in Phoenix, a freshman out of Kentucky who dropped to No. 13 in the 2015 NBA draft.

Phoenix surrounded Booker with three lottery picks in the past two drafts, including this year's No. 1 overall pick, center Deandre Ayton, No. 10 pick Mikal Bridges and 2017 No. 4 overall pick Josh Jackson.