Rockets extend Harden through 2023 with reported record contract

James Harden is about to have a lot more spending money for beard products.

The Rockets announced a four-year contract extension Saturday that will keep the All-NBA guard in Houston through the 2022-23 season. Harden, who had two years (plus an option) remaining on his current contract, will earn $228 million over the next six seasons, according to ESPN's Adrian Wojnarowski. The final four years will be worth roughly $169 million.

The average annual value of the four-year extension will pay Harden close to $42.3 million per season - an NBA record - with an overall AAV of $38 million over the entire duration of the six-year agreement.

As an eight-year NBA veteran who met certain performance-based criteria - specifically, being selected to an All-NBA team this year - Harden was eligible for the Designated Veteran Player Extension, the largest possible contract allowed under the most recent collective bargaining agreement.

The total guaranteed money on Harden's deal tops the pact signed between the Golden State Warriors and Stephen Curry earlier this summer, reported to be $201.2 million over the next five seasons.

Harden was selected with the No. 3 pick in the 2009 draft by the Oklahoma City Thunder, capturing the Sixth Man of the Year Award for the 2011-12 season for his high-scoring contributions off the bench. Days before the start of the 2012-13 season, he was traded to the Rockets along with three other players for a package including Jeremy Lamb, Kevin Martin, and draft picks that would become Steven Adams, Alex Abrines, and Mitch McGary.

Since joining Houston, Harden has averaged 27.4 points, 7.6 assists, and 5.9 rebounds per game, making five straight All-Star appearances and being selected to four All-NBA teams. He came second in MVP voting for the 2016-17 season, being bested by former teammate and backcourt partner Russell Westbrook.