Deron Williams Finally Agrees to Extension

It took longer than expected, but Deron Williams and the Jazz were finally able to hammer out an extension. It won't be formally announced until a press conference tomorrow afternoon, but Bob McClaren, Williams' agent, confirmed to Ross Siler of the Salt Lake Tribune that Williams agreed to a three-year deal worth max money that includes a player option for a fourth.

If he stays all four years, the contract will be worth $70 million. In other words, he's making Chris Paul money. Or Chris Paul is making Deron Williams money -- they signed the exact same deal.

The Jazz were originally hoping to lock up Williams for five years, the most allowed under the CBA, but Williams wanted to hedge his bets due to Utah's uncertain future with Carlos Boozer, Mehmet Okur and Kyle Korver all eligible to opt out of their contracts after next season. But considering the extension doesn't kick in until after this upcoming season, the Jazz will have Williams under their control through 2011-12 at the very least.