There’s no place like home, according to Damian Lillard.

ESPN’s Shams Charania reported that Lillard and the Portland Trailblazers have come to terms on a three-year, $42 million contract on Thursday (July 17). The deal includes a player option in 2027-28 and a no-trade clause.

Lillard and Los Angeles Lakers' star LeBron James are now the only NBA players with a no-trade clause in their contracts. 

Sources close to the situation say that both sides became deeply interested in a reunion, citing several meetings with Lillard, general manager Joe Cronin, and head coach Chauncey Billups “to bond together and move forward united on a new deal.”

Earlier this month, the Milwaukee Bucks waived Lillard and stretched the remaining $113 million on his contract to sign free agent center Myles Turner.

When the season commences, Lillard will earn $70 million between his Portland and Milwaukee deals, and $141 million over the next two years ahead of an opt-out in 2027. 

In April, Lillard tore his left Achilles in Game 4 of the Bucks' first-round playoff series against the Indiana Pacers. He underwent surgery in early May and is slated to return in the 2026-27 season.

Before being traded to the Bucks, Lillard spent 11 seasons with the Trail Blazers, becoming one of the franchise's greatest players. He made seven All-Star appearances, seven All-NBA teams, and was named to the NBA 75th Anniversary team. 

During his first tenure in Portland, he led the squad to the playoffs eight times, including a Western Conference finals appearance in 2018-19. He ranks first in team history in points (19,376) and 3-pointers (2,387), and second in assists (5,151).