While Kevin Durant is trying to lead Team USA Basketball to a gold medal in Tokyo, he is making it clear that he is staying in Brooklyn for the long haul.


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Durant’s website, The Boardroom, announced Friday that the veteran forward will sign a four-year contract extension with the Brooklyn Nets. Durant’s manager Rich Kleiman confirmed that the deal will be worth $198 million. As part of the deal, Durant will decline his player option for 2022-23 and tack on four years to the existing deal instead.

With Durant locked in now, it gives the Nets some flexibility to continue to build a championship caliber team around him. The Nets are currently projected to spend $296 million next season in payroll and luxury taxes, per ESPN’s Bobby Marks. That is the second-biggest number in NBA history, trailing only next season’s Warriors, as they try to win the franchise’s first NBA championship around Durant, Kyrie Irving and James Harden.

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The Nets can now focus on locking in Harden and Irving, whom both can opt out of their contracts next season.