by Marcel Mutoni

Following a somewhat nerve-racking summer, Portland Blazers fans can breathe a sigh of relief: LaMarcus Aldridge has been locked up for the long-term. However, the team did not secure his services at a cheap rate.

Portland has reportedly signed Aldridge to a five-year extension that will make the 24-year old (who posted averages of 18 points and 7 rebounds last season) a very rich man.

Yahoo! reports:

The Portland Trail Blazers have reached agreement with forward LaMarcus Aldridge on a five-year extension worth more than $65 million, NBA sources said. The deal assures Aldridge between $65-68 million with incentives that could push the total value closer to $70 million.

LaMarcus and his employer had been negotiating for quite some time, and some had begun to believe that the forward was unhappy with the length of the negotations (especially after the Blazers had enthusiastically re-upped Brandon Roy’s contract).

Both sides had until October 31st to reach an agreement, ensuring that LaMarcus Aldridge would not be able to test the free agency market next summer.

It’s a lot of money for a young player, one who despite his massive talent, has yet to put it all together. Evidently, the Blazers are betting that in time, their gamble will pay off.