The Houston Rockets and recently acquired guard James Harden have agreed to a five-year, $80 million contract extension.

The 23-year-old was acquired by the Rockets late Saturday in a deal with the Oklahoma City Thunder. Wednesday was the deadline for teams to agree to contract extension with players taken in the first round of 2009 draft.

In order to acquire the reigning Sixth Man of the Year Houston sent Kevin Martin, Jeremy Lamb and future draft picks to the Thunder. Along with Harden the Rockets acquired Cole Aldrich, Lazar Hayward and Daequan Cook

The Thunder had offered Harden a four-year, $54 million extension before talks broke down.

Harden averaged 16.8 points, 4.1 rebounds and 3.7 assists last season coming off the bench for Oklahoma City.