2:45pm: Crabbe's deal is a three-year contract with a team option on the third year, tweets Joe Freeman of the Oregonian.
WEDNESDAY, 10:52am: Crabbe has officially signed with the Blazers, according to team owner Paul Allen (via Twitter).
TUESDAY, 4:23pm: Allen Crabbe will sign his contract with the Trail Blazers tonight, reports Ben Golliver of Blazer's Edge (via Twitter). Because he was the first pick of the second round in the draft, Crabbe isn't eligible for a standard rookie-scale deal.
Crabbe, 21, was regarded as one of the better shooters in the draft, having averaged 18.4 PPG during his junior year at California. It's not clear how many years or dollars he and the Blazers have agreed to, but a minimum-salary contract is one possibility. If Crabbe receives more than the minimum, Portland can use either its cap space or a portion of its room exception for the deal.