According to Shams Charania of The Athletic and Stadium, the two sides agreed to a three-year deal. ESPN's Bobby Marks provided the specifics on the contract:
Lee is averaging 12.3 points, 5.3 rebounds and 2.3 assists for Golden State in 2019-20.
Hee has assumed a larger role in the rotation with Stephen Curry and Klay Thompson both nursing injuries, which has helped him carve out a place in Golden State at an age when a lot of players are already long settled.
"I'm 27, most people are kind of in their prime," he told the San Francisco Chronicle's Connor Letourneau. "I feel like I'm just starting to figure out who I am and what I can bring to a team, so just taking it and turning it into more years."
Warriors head coach Steve Kerr confirmed the team intended to sign Lee to a full-time contract as he was playing under a two-way deal. The Mercury News' Wes Goldberg explained Golden State was waiting in order to somewhat limit his salary-cap hit since the team is up against the hard cap.
The Warriors knew coming into the year they were facing a difficult road. Thompson suffered a torn ACL in the NBA Finals, and Kevin Durant had left to sign with the Brooklyn Nets. When Curry underwent surgery on his hand, that was the end of their playoff hopes.
The silver lining is that Kerr and the front office have gotten a better chance to see whether players such as Lee who had been on the periphery.
The undrafted Louisville product has proved to be a solid rotation player and should remain a consistent contributor when the Warriors have their full arsenal available in 2020-21.