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IT’S OFFICIAL! Joe Tsai on Kevin Durant extension: ‘We know who he is’

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The Nets made it official Sunday. They’ve signed Kevin Durant to a four year extension that Boardroom, his own media platform, reported would pay him $198 million over four years starting in 2022-23. With KD getting $42 million this coming season, Durant will earn $240 million over the next five years, an average of $48 million.

In announcing the extension, Nets owner Joe Tsai echoed Durant’s most famous description of himself.

“We know who he is. Kevin Durant will establish his legacy in Brooklyn as one of the greatest ever. On behalf of the Nets organization, my family and our fans, we are excited and humbled to see a lot of Kevin for years to come.”

Sean Marks, the architect of the Nets resurgence the last five year, was equally enthused about the extension.

“Kevin is a transcendent talent who continues to drive and push this franchise and the game of basketball globally. We are thrilled to continue our partnership with him for years to come. Kevin’s impact both on and off the court cannot be overstated. His unparalleled drive and leadership generate sustained excellence from himself while also elevating the performance of his teammates, positioning this organization to continue the pursuit of our championship goals in Brooklyn.”

Durant’s decision essentially means the player most see as the best player on the planet wants to end his career in Brooklyn. By the time the extension ends, He’ll be 37.

The timing of the extension couldn’t have been better, coming two days after he won his third Olympic gold medal, making him, along with Carmelo Anthony, the most decorated men’s basketball player in Olympic history. And just hours before the Nets announced the signing, KD was named the MVP of the Olympics’ men’s basketball competition and one of the FIBA All-Star Five ... along with new teammate Patty Mills.

The two-time Finals MVP becomes the first of the Nets “Big Three” to sign an extension. Both James Harden and Kyrie Irving are also eligible for similarly sized deals. Harden can ink an extension for up to three years, $161.1 million. Irving can do four years, $181.6 million If Irving decides not to ink an extension this offseason, he is eligible for a five-year, $235 million max contract deal as a restricted free agent next summer.