(Sports Network) - The Houston Rockets and newly-acquired guard James Harden agreed to a five-year contract extension according to multiple sources.
The deal will reportedly pay Harden nearly $80 million over the lifetime of the contract.
Harden, the reigning Sixth Man of the Year, was dealt from Oklahoma City to Houston on Saturday in exchange for guards Kevin Martin and Jeremy Lamb, two first-round draft picks and one second-rounder.
The Thunder also sent guard Daequan Cook, forward Lazar Hayward and center Cole Aldrich to the Rockets.
Taken with the third overall pick in the 2009 NBA Draft, Harden posted career- highs in both points (16.8) and assists (3.7) per game in 2011-12 to help the Thunder capture the Western Conference Championship.
According to league sources, Harden turned down a four-year deal worth up to $54 million with the Thunder before he was traded.