Russell Westbrook has signed a contract extension with the Oklahoma City Thunder, signing a three year deal.
The details of the contract has not been disclosed, but sources have it as a three year deal worth $85.7 million.
The deal includes a player option that would allow Westbrook to still become a free agent after the 2017-18 season.
“There’s nowhere else I would rather be than Oklahoma City,” Westbrook said at a news conference to announce the deal. “You guys have basically raised me. I’ve been here since I was 18, 19 years old. You guys did nothing but great things for me. Through the good and the bad, you guys supported me through it all, and I appreciate it. Definitely when I had the opportunity to be able to be loyal to you guys, that’s the No. 1 option. Loyalty is something that I stand by.”
Asked why he agreed to the extension now rather than wait until next season, Westbrook was emphatic: “There’s no need to wait if you know where you want to be.”
Talks between the sides centered around the addition of two more years to Westbrook’s current deal, which expires after the 2016-17 season. The new deal calls for Westbrook’s salary to jump from $17.8 million next season to the maximum $26.5 million. He would then earn the max the next two seasons if he exercises the third-year option.
The player option for the third season of the deal will allow Westbrook to capitalize on the league rule allowing players who have completed 10 seasons to earn a larger max salary.