SAN ANTONIO —  Veteran guard Chris Paul has agreed to sign with the San Antonio Spurs, multiple news outlets, including the Associated Press, report.

It’s a one-year deal, a person with knowledge of the agreement said, and Paul will be paired with rookie of the year Victor Wembanyama.

Paul was waived earlier Sunday by the Golden State Warriors, who would have had to pay him $30 million for the coming season otherwise. ESPN reported the Spurs will pay Paul around $11 million. The 39-year-old Paul averaged 9.2 points and 6.8 assists in 58 games with the Warriors last season.

Widely regarded as one of the best point guards of all time, Paul, nicknamed “CP3,” has won NBA Rookie of the Year, NBA All-Star Most Valuable Player and two Olympic gold medals.

Paul was drafted by the New Orleans Hornets in 2005. He later played for the Los Angeles Clippers, the Houston Rockets, the Oklahoma City Thunder and the Phoenix Suns.

It was in 2021 with the Suns that he reached the NBA Finals for the first time. He was later traded to the Warriors.