According to one report, the deal is worth just over $11 million.
Now signed through the 2014-15 season, it seems likely Collison will play for the same franchise his entire NBA career.â€œIt's been five coaches, two general managers, two owners, two cities and about 50 or 60 players, so I've been through a lot of change,â€ the 30-year-old Collison said after Tuesday's practice. â€œI've seen the good and the bad, and we're in a good place right now. That was big for me to try to continue to be part of that. I know how much better my life is when we're winning.â€ Collison has experienced seasons ranging from 52 wins to 20 wins with the Seattle SuperSonics and Thunder. He started out 17-3 in the 2004-05 season and began 3-29 in the 2008-09 season. â€œWe've got a good future, and I have a role here,â€ Collison said. â€œI think they appreciate what I do. I just didn't see a reason to try to go anywhere else.â€ Per team policy, financial terms of the contract were not disclosed for Collison, who is the Thunder's highest-paid player this season at $6.75 million. Contract parameters differ greatly for Collison, Jeff Green and Nenad Krstic, who all entered this season with expiring deals. Only veteran contracts of four years or longer can be extended once the deal hits its fourth anniversary, and Collison's deal had reached its fourth year. Krstic has a three-year deal and therefore is not eligible for an extension. Green is in the final year of his original deal and did not come to terms with the Thunder before the Nov. 1 deadline for rookie contracts. When the NBA's new collective bargaining agreement is reached, Green will become a restricted free agent and the Thunder will be able to match another team's offer. Had Collison not agreed to an extension, he and Krstic would have become unrestricted free agents and been free to sign with any team. Also, Collison and Krstic already have proved their worth, and it's a safe assumption their new deals will decrease financially. Green, meanwhile, is still proving his maximum worth and awaits a potentially significant pay raise. Collison's extension was not a knee-jerk reaction to his recent return from a bruised left knee, which has resulted in the Thunder's more stabilized play and a five-game winning streak heading into Wednesday's 7 p.m. contest against Dallas inside Oklahoma City Arena. Collison's contract was one of the Thunder's summer objectives and took into account his long-term worth to the franchise, particularly since its relocation from Seattle in July 2008. â€œHe's a key part of our team. He's a core guy,â€ All-Star Kevin Durant said of Collison. â€œHe's our leader. A lot of people put that on me and Russell (Westbrook), but Nick's our leader.â€ Collison's unselfish manner has had a positive affect on the Thunder's young and impressionable players, a role that extends into the locker room and off the court. Collison has become an identifiable representative to the franchise's yeoman-like approach. â€œNick Collison has shown an unwavering commitment to our organization through his willingness to accept various roles and his dedication to his teammates throughout his seven-year career with our franchise,â€ Presti said in a statement Tuesday. â€œHe brings a smart, physical, and hardworking approach to our defense and is one of our most active players in the community. We are thrilled that Nick will remain a core member of our team and continue his career with the franchise that drafted him.â€ Though Presti handles the contractual aspect of the business, Thunder coach Scott Brooks was on board with the Collison extension. "You didn't have to sell it (the idea of extending Collison's contract)," Brooks said. "Everybody values Nick and feels the same way about Nick â€“ coaches, management and teammates. "When I was not with the team (before 2007), you knew Nick was a good player. You knew he was scrappy, that he did a lot of good things, but you didn't know how valuable he was. I value him and his teammates really value playing alongside Nick. He just does so many things to help the team win." A former Big 12 player of the year out of Kansas, the 6-foot-10, 255-pound Collison was the 12th overall pick in the 2003 NBA Draft and sat out his rookie season after surgery to both shoulders. Collison has NBA career averages of 7.7 points and 6.6 rebounds in 460 games, but his contributions extend far beyond the stat sheet. "Regular fans don't know who he is, but real basketball people know what he means to our team," Durant said. "From the outside looking in, I really didn't know what kind of player he was until I got here. He rebounded the basketball, defended and never complained. He always worked hard every day. Those are the kind of guys you want to be around, especially with a young group of guys like us. You can really learn a lot from him."
THUNDER VS. MAVERICKS
When: 7 p.m.
Where: Oklahoma City Arena.
TV: FS Oklahoma (Cox 37, HD Ch. 722)
Radio: WWLS 98.1-FM, WWLS 640-AM.
THREE THINGS TO KNOW
* The Thunder has won five straight games and seven of its past eight.
* Dallas has allowed just 92.2 points per game, the fourth fewest in the league.
* The Thunder is 5-3 at home this season.
Pos., Player, Ht., Pts., Reb., Ast
G, Russell Westbrook, 6-3, 23.2, 5.1, 8.2
G, Thabo Sefolosha, 6-7, 5.9, 4.8, 1.6
F, Kevin Durant, 6-9, 28.0, 6.5, 2.8
F, Jeff Green, 6-9, 19.0, 6.4, 0.7
C, Nenad Krstic, 7-0, 7.7, 4.9, 0.4
G, Jason Kidd, 6-4, 8.0, 3.3, 9.3
G, DeShawn Stevenson, 6-5, 5.0, 1.1, 0.4
F, Caron Butler, 6-7, 13.1, 4.4, 1.4
F, Dirk Nowitzki, 7-0, 24.4, 8.4.8, 1.8
C, Tyson Chandler, 7-1, 8.2, 8.0, 0.3
Note: Stats and records are through Monday's games.