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Report: Jazz, Williams agree to $70M extension

by FOXSports.com

Updated: July 18, 2008, 4:51 PM EST 346 comments

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Point guard Deron Williams signed a contract extension with Utah on Friday that will keep him with the Jazz through at least the 2011-12 season.

Must-read:

Williams, who still had one year left on the rookie contract he signed after the Jazz picked him third overall in the 2005 NBA draft, signed a three-year deal with a one-year option.

While terms of the contract were not released, The Salt Lake Tribune reported Friday that the deal could reach a value of approximately $70 million, the maximum allowed by the NBA's collective bargaining agreement, with the option. The Hornets' Chis Paul, drafted the same year as Williams, has a similarly fashioned deal that is valued at about $68 million.

Had he agreed to a five-year extension, Williams would have locked in $21 million in guaranteed money for the fifth year. By opting for the lesser package, Williams has the ability to become a free agent at the age of 28 or 29.

Williams has led Utah to the last two Northwest Division titles.

Williams was one of 12 NBA players named to the Olympic team last month following a season in which he averaged 18.8 points and 10.5 assists to help the Jazz to the conference semifinals. He has career averages of 15.3 points, 8.1 assists and 2.9 rebounds while appearing in a total of 242 of a possible 246 career games, including all 82 during the 2007-08 regular season.

Information from The Associated Press was used in this report.

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