James Harden signs 4-year contract extension with Rockets

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Sunday, July 10, 2016
Houston Rockets' James Harden during Game 1 of a first-round NBA basketball playoff series against the Golden State Warriors Saturday, April 16, 2016, in Oakland, Calif.

HOUSTON -- Houston Rockets guard James Harden has signed a new deal that will keep him with the team through the 2019-20 season, owner Leslie Alexander said Saturday.

The contract is worth $118 million, sources confirmed to ESPN's Marc Stein. The Vertical was first to report the value of the deal.

"I'm happy to be here for four more years," Harden said. "This is home for me."

Harden had one year left on his previous contract, with a team option for 2017-18.