Durant agrees to $85 million extension

Kevin Durant(notes) has reached agreement with the Oklahoma City Thunder on a five-year contract extension that could be worth nearly $85 million.

Durant announced his signing on his Twitter account on Wednesday morning. His agent Aaron Goodwin confirmed the maximum deal to Yahoo! Sports.

League rules don’t permit Durant to sign the contract until Thursday. The final numbers for the extension won’t be known until the NBA releases its salary-cap figures on the same day.

“It’s a great opportunity for Kevin and his family,” Goodwin said. “It’s what he wanted from Day One.”

Durant, the second overall pick in the 2007 draft, was the NBA’s leading scorer last season, averaging 30.1 points per game. He just completed his third season with the Thunder and will turn 22 on Sept. 29.

“Me and my family came a long way,” Durant tweeted. “…This is a blessing!”

Durant’s extension will kick in during the 2011-12 season. It doesn’t contain an opt-out clause in the fourth year.

“Kevin realized the commitment from Oklahoma City,” Goodwin said. “So he wanted to make a commitment back to Oklahoma City to make the fourth year a non-issue.”

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Updated Wednesday, Jul 7, 2010