Jazz agree in principle to extension with G Williams

Jul 17, 2008 - 11:28 PM SALT LAKE CITY (Ticker) -- The Utah Jazz agreed in principle to a contract extension with point guard Deron Williams, the team announced Thursday.

Terms were not disclosed, but the Salt Lake Tribune reported the contract will be for three years with an option for a fourth and pay Williams "the maximum allowed by the NBA's collective bargaining agreement."

The team will hold a news conference at 4 p.m. EST on Friday.

"I know everybody has worked very, very hard toward reaching an agreement," Bob McClaren, Williams' agent, told the Tribune. "It'll be fun to talk about it (Friday)."

The 24-year-old Williams, who can become a free agent in 2012 at the earliest, would not have the exact value of his extension determined until the NBA salary cap is set next July, according to the newspaper.

However, the Tribune reported the star floor general will make approximately $50 million over the first three years of the deal and up to $70 million if he exercises the option for the fourth year.

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