The Thunder have reached an agreement on a contract extension with Russell Westbrook, according to ESPN’s Adrian Wojnarowski (Twitter link), who reports that the new deal is a five-year pact projected to be worth about $205MM. The extension will replace Westbrook’s player option for 2018/19, running through the 2022/23 season.

Westbrook’s new deal is a Designated Veteran Extension, similar to the ones signed by Stephen Curry, James Harden, and John Wall earlier this offseason. However, Curry’s DVE took effect this season, while Harden’s and Wall’s won’t begin until 2019/20, so the final numbers on Westbrook’s extension will look a little different.

Westbrook’s starting salary will be worth 35% of the 2018/19 salary cap. Based on the NBA’s latest projection, that would work out to $35.35MM in year one, and $205.03MM in total. Taking into account Westbrook’s $28,530,608 salary for 2017/18, the reigning MVP will be locked up for about $233.56MM over six years, which would be the largest contract in NBA history.