Nuggets' Lawson signs contract extension

Denver Nuggets guard Ty Lawson has agreed to a contract extension, Lawson said via Twitter.

The 24-year-old announced to his followers that he'll remain with the team "for another four years" and thanked management for the extension.

The deal is worth $48 million, and will begin next season, according to ESPN The Magazine's Chris Broussard.

First-round picks from the 2009 NBA draft will become restricted free agents in July unless they obtain a contract by a midnight Wednesday deadline.

Lawson, the 18th overall pick in 2009 by the Minnesota Timberwolves, averaged 16.4 points per game with Denver last season.