Jul 18, 2008 - 1:57 AM
0 shoutsSALT 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.
Williams declined to ink a five-year extension - the maximum allowable - and opted instead to follow in the footsteps of fellow young stars LeBron James, Dwyane Wade and Chris Paul, who all signed shorter deals to allow themselves flexibility to leave for free agency if they are unhappy with their current clubs.
Williams and Paul, who were selected third and fourth, respectively, in the 2005 draft, have been linked as two rising-star point guards in the league. Paul signed a similar contract extension with the New Orleans Hornets earlier this summer.
But while Paul finished second in voting for the Most Valuable Player Award last season, Williams has yet to make the All-Star team despite being selected as a member of the All-NBA second team. The 6-3 Williams averaged career highs of 18.8 points and 10.5 assists last season for Utah, which lost to the Los Angeles Lakers in the Western Conference semifinals.
Despite Williams' success with the Jazz, the report speculated that he was worried about the team's future prior to signing the deal, as teammates Carlos Boozer, Mehmet Okur and Kyle Korver all are able to opt out of their contracts and become free agents next summer.
