James Harden must have wanted to get in on all the money being thrown around this offseason as reports say he has agreed to a four-year, $118 million extension with the Rockets. The renegotiation will keep him under contract with Houston through 2020.
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Sources on @TheVertical: All-Star James Harden has agreed to a 4-year, $118M contract renegotiation that takes him through 2020 in Houston.
— Adrian Wojnarowski (@wojespn) July 9, 2016
The deal assures the Rockets of one additional year of Harden under contract in 2018-19 because of a player option that could return him to free agency in 2019, sources said.
Rockets owner Leslie Alexander made the surprise announcement at a news conference in Houston on Saturday, where the Rockets had planned to introduce the new free-agent signings of Ryan Anderson, Eric Gordon and Nene.
“There’s no indecision,” Harden said at the news conference. “There’s no doubt. There’s new life.”
A provision in the collective bargaining agreement allows Houston to use its own salary cap space to renegotiate the final two years of Harden’s contract – and add two additional years onto the deal.
For Houston, it is a coup to have Harden secured past 2018, allowing the franchise to continue to build around him for the long term. Harden has bought into coach Mike D’Antoni’s vision and wanted to make a longer commitment to the franchise.
“We’re building a new core with James here,” Houston general manager Daryl Morey said at the news conference.