Thunder announce extension for Westbrook

It's official: Russell Westbrook is staying put.

The Oklahoma City Thunder announced Thursday that the team signed their franchise point guard to a contract extension.

Terms of the deal weren't released, but it's reported that Westbrook inked a three-year deal worth $85 million that carries through until 2019.

Related: 3 things to know about Westbrook's extension

Under his previous contract, Westbrook was slated to collect $17.7 million in the final year of his deal. This extension bumps his 2016-17 salary to $26.5 million, while also adding on two more seasons thereafter. The final year of his contract is a player option worth $31 million.

"I am grateful to extend my contract with the Thunder and continue to play with the only organization that I have played for and have loved being a part of since I was drafted into the NBA," Westbrook said in the release. "I’m really excited about moving forward with this group of guys and continuing to play in front of the best fans in the world."

Westbrook's deal comes on the heels of Kevin Durant and Serge Ibaka's departures. A whirlwind summer of change leaves Westbrook as the lone superstar remaining in OKC, and his decision to stay put gives the franchise a much-needed dose of stability.

The 27-year-old averaged 23.5 points, 10.4 assists, 7.8 rebounds, and two steals in 34.4 minutes per game last season.