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Kevin Durant and Oklahoma City Thunder agree to 5-year contract extension

Kevin Durant agreed to a new contract with the Oklahoma City Thunder just one minute after team executives showed up on his doorstep at 11:01 p.m. CST on June 30. The new deal does not contain a player option that would allow Durant to become a free agent following the fourth year of the contract.
BY DARNELL MAYBERRY, Staff Writer, Modified: July 7, 2010 at 4:00 pm •  Published: July 7, 2010

ORLANDO, Fla. — Kevin Durant needed just one minute to agree to a five-year contract extension with the Oklahoma City Thunder. The star forward announced the deal on his official Twitter page Wednesday morning.

Team officials showed up at Durant’s house at 11:01 p.m. CST on June 30 — the exact minute teams were allowed by league rules to negotiate contracts with their players — and offered a new deal. In an exclusive interview with The Oklahoman on Wednesday, Durant said he agreed to the deal at 11:02 p.m., one minute after teams executives showed up at his house.

The deal is worth approximately $85 million, the maximum allowable salary under NBA rules, according to Durant’s agent, Aaron Goodwin.

Durant cannot sign his new deal until Thursday, when the league’s moratorium is lifted, and team officials are prohibited from publicly discussing the agreement until that time. But by agreeing to a five-year deal, which begins for the 2011-12 season, the Thunder has secured Durant’s rights through 2015-16.

The contract, Goodwin told The Oklahoman, does not contain a player option that would allow Durant to become a free agent following the fourth year of the new deal.

“He told everyone from Day One that he’s committed to five years and doesn’t care about an out,” Goodwin said. “And that shows you the magnitude of the person Kevin Durant is.”

Durant, who is in Orlando, Fla. this week watching the Thunder’s rookies and second-year players compete in summer league, broke the news just before 10 a.m. central on the popular social networking site Twitter.

“Extension for 5 more years wit the thunder....God is Great, me and my family came a long way...I love ya’ll man for real, this is a blessing!” he wrote in the site’s customary shorthand.

Moments later, Durant announced he grew emotional after completing the deal.

“First time I cried n a while..Seat Pleasant we outchea, RIP Chucky, we doin wat we dreamed about..i swear I love all my bros!! yessir!!” Durant wrote, acknowledging his hometown of Seat Pleasant, Md. and his slain youth league coach Charles Craig, who died at age 35 and is the reason Durant wears jersey No. 35.

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