After acquiring Taurean Prince in a July trade, the Brooklyn Nets announced Monday they have signed the forward to a multiyear extension. 

According to Adrian Wojnarowski of ESPN, the two-year deal is worth $29 million.

The 2016 lottery pick spent his first three years with the Atlanta Hawks, finishing last season with averages of 13.5 points, 3.6 rebounds and 2.1 assists per game in 55 appearances.

The 6'8" wing has been especially reliable as a three-point shooter in his first three years in the NBA, knocking down 38 percent of his shots from behind the arc. He set a career high last season with a 39 percent success rate on 5.7 attempts per game.

This alone could help keep him a reliable contributor in the Nets rotation:

Brooklyn acquired Prince in a deal that mostly helped clear salary from Allen Crabbe, but the latest extension shows he will be a key part of the organization going forward.

The 25-year-old could be especially useful in 2019-20, providing depth at forward with Kevin Durant recovering from his Achilles injury.

The only downside is the limited cap space for Brooklyn going forward, as ESPN's Bobby Marks explained:

Joe Harris and Wilson Chandler are now the team's only pending free agents.