Kevin Durant's new deal with the Golden State Warriors will be for just one year plus a player option for 2019/20, according to multiple media reports.
The two-time NBA Finals MVP was due to become a free agent on Sunday after he declined a $26.2 million player option.
However, he said all along that he had no intention of signing elsewhere.
He will make $30 million in 2018/19 and have a $31.5 million option for the following season, per multiple reports.
Durant's salary for the next season is $5.3 million less than he would have received had he agreed to a four-year contract.
In his previous two-year contract with Golden State he accepted $10 million less than the max salary.
That largesse allowed the Warriors to retain key role players Andre Iguodala and Shaun Livingston, who were free agents.
Durant averaged 26.4 points, 6.8 rebounds and 5.4 assists in 68 regular-season games in 2017/18, missing time due to a rib cartilage fracture.
In the post-season, Durant contributed 29 points, 7.8 rebounds and 4.7 assists in 21 games, guiding Golden State past the San Antonio Spurs, the New Orleans Pelicans, the Houston Rockets and the Cleveland Cavaliers.
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