Agents Mark Bartelstein and Andy Shiffman officially announced the agreement in an email to The Associated Press on Monday.
Kispert, 25, will make an average of $13.5 million a year when his new contract kicks in for the 2025-26 NBA season. He’s coming off his rookie deal that was worth $16 million total after being selected with the 15th pick in the 2021 draft out of Gonzaga.
The 6-foot-7, 220-pound small forward averaged 13.4 points last season for the Wizards as a part-time starter. He has appeared in 231 games in the league, all with Washington.
ESPN first reported Kispert’s extension.