The Nets and Porter reached an agreement Wednesday on an offer sheet that would pay Porter the maximum of $106 million over four years.
The Wizards had three days to match the Nets’ offer. They had made it clear they intended to exercise their right to match any offer to Porter, a source reiterated to ESPN’s Ohm Youngmisuk on Tuesday night.
The third overall pick by Washington in 2013, Porter finished fourth in the voting for Most Improved Player last season after posting career-high averages of 13.4 points, 6.4 rebounds and 1.5 steals while shooting 51.6 percent from the field and 43.4 percent from 3-point range.
Porter became a serious 3-point threat, increasing his shooting from behind the arc from 36.7 percent from the season before. He started 80 games and became a third scoring threat to complement John Wall and Bradley Beal.