Dwight Powell will re-sign with the Dallas Mavericks. The two parties agreed on a three-year, $12 million deal, ESPN’s Adrian Wojnarowski reported Saturday. Free agency agreements can’t be finalized until July 6.

Dallas’ front office is showing Powell some favoritism with his new contract. He’s making more than the veteran’s minimum, which would be slightly over $9 million for a three-year deal.

That means the Mavericks dipped into their $12.4 million Mid Level Exception to make Powell’s payday happen. Dallas still has the majority of the MLE available to spend.

Powell is the longest-tenured Mavericks player, having spent eight and a half with the organization and appearing in 582 regular and 31 postseason games.

Last season, he played in 76 games, starting 64, and averaged 6.7 points while shooting a career-best 73.2% from the floor. He also grabbed 4.1 rebounds per game.

Powell lost his place in the starting rotation early on in the season after starting 71 games in 2021-22. Mavericks head coach Jason Kidd promised the starting center spot to JaVale McGee shortly after signing him last summer.

It was an ill-fated and short-lived decision. McGee started just seven games before Powell permanently replaced him in the starting lineup.

This is Powell’s third contract with the Mavericks. He previously signed a three-year, $33 million contract extension in June 2019.