12:15 pm: Durant’s extension is now official, the Rockets announced in a press release (Twitter link).
8:02 am: The Rockets and star forward Kevin Durant have agreed to terms on a new two-year contract extension, his business partner Rich Kleiman tells Shams Charania of ESPN (Twitter link). According to Charania, the deal is worth $90MM and includes a second-year player option for the 2027/28 season.
Houston was one of the teams on Durant’s list of preferred destinations when the Suns put him on the trade block during the summer, so there was an expectation after the two teams agreed to a deal that Durant and the Rockets would work out an agreement of their own sooner or later.
However, there was also a sense that the Rockets weren’t willing to give Durant the maximum extension he was been eligible for, which was worth roughly $119MM over two years (based on a projected $166MM cap). That maximum salary figure would’ve increased slightly at the six-month mark after the trade, but the 37-year-old couldn’t sign an extension longer than two years due to the over-38 rule.
Ultimately, the two sides agreed to an extension that will see Durant take a pay cut from his current $54.7MM salary but still represents a massive payday for a player entering his 19th NBA season. According to Charania (Twitter link), there was an understanding when Durant was dealt to the Rockets that he wouldn’t push for a maximum contract in order to help the team maintain flexibility to build and retain its roster going forward.
Durant has expressed this fall that he feels comfortable in Houston, where he has reunited with one-time Seattle SuperSonics teammate Jeff Green (story via Danielle Lerner of The Houston Chronicle) and fellow University of Texas alums Royal Ivey, D.J. Augustin, and Dexter Pittman, each of whom has a role within the Rockets’ organization (story via Lerner). As Chris Mannix of SI.com wrote in a feature story earlier this week, Durant is hopeful that he’ll retire as a Rocket.
“I’m looking to be here as long as I can, play my last years of my career,” he said. “That’s the intent. I know, I said that about Phoenix, too, but that’s the intent. I would love to do that. I mean, I’m 37 years old and I’m going on 19 years in the league. I want to be solidified in a spot and build with a team with a group of guys that’s going to be around for a while. So hopefully this is it.”
Although Durant’s stint with the Suns didn’t play out as he or the team hoped, the 15-time All-Star continued to put up monster offensive numbers during his time in Phoenix. In 62 games last season, he averaged 26.6 points, 6.0 rebounds, and 4.2 assists in 36.5 minutes per night, with a shooting line of .527/.430/.839.
The Rockets are optimistic that Durant’s ability to score in the half-court setting will raise their ceiling after they struggled in those situations, especially in crunch time, during last season’s first-round playoff series vs. Golden State.
As Bobby Marks of ESPN notes (via Twitter), Houston was projected to be about $80MM below the second tax apron in 2026/27 prior to Durant’s deal. His new salary will come in low enough to allow the club to extend Tari Eason and fill out its roster in free agency next summer while remaining below that threshold. Eason is eligible to sign a rookie scale extension today or Monday — if he doesn’t work out a deal with the Rockets at this time, he’ll be a restricted free agent next summer.
According to Charania (Twitter link), Durant’s new contract – including the player option – increases his total career current and future earnings to over $598MM, which is an NBA record. LeBron James was the previous record-holder, coming in just below $584MM.