Thunder, Collison agree to multi-year contract extension

BY foxsports • February 3, 2015

Nick Collison will be with the Thunder for the foreseeable future.

Oklahoma City general manager Sam Presti said the team has agreed with Collison on a multi-year contract extension. Term of the deal were not disclosed, however Yahoo has reported it as a two-year deal for close to $8 million. ESPN is reporting it to be worth $7.5 million with both seasons guaranteed.

Four seasons ago, the Thunder re-negotiated Collison's contract from $6.75 million to $13.27 million and then gave him an extension which paid him $11 million deal over four years. That added up to $24.3 over five years, but the last four were only at about $3.2 million per year. 

Collison has been with the Thunder since the team was in Seattle. He has played 791 career games. 

"I'm excited to continue my career with the Thunder," Collison said. "I feel fortunate to be parti f a great organization and to play with a great group of teammates."

Collison is making $2,242,003 this season. He was set to be a free agent after this season. 

Collison was drafted No. 12 overall in 2003 after being named Big 12 Conference Player of the Year at Kansas. 

"We are excited that Nick Collison will continue his tenure with the Thunder," Presti said in a press release. "Since our arrival in 2008, Nick has helped us establish the standards on and off the floor that we we work by on a day-to-day basis. Nick is the type of player that will always be valued and we are thrilled he will continue to be a foundational member of the Thunder moving forward."

Kendrick Perkins and Ish Smith will be free agents after this season. The team also has a qualifying option for guard Reggie Jackson and a team option on Grant Jerrett.

Follow Andrew Gilman on Twitter: @andrewgilmanOK.

share story