Horford, Hawks agree to $60 million contract extension

By Michael Cunningham

The Atlanta Journal-Constitution

The mood was festive at Al Horford's home as he celebrated Halloween with his family Sunday.

When Horford received word that the Hawks and agent Arn Tellem reached agreement on a five-year contract extension worth $60 million, the celebration picked up another notch.

"When they finally agreed on everything, I was so excited," Horford said Monday. "My family was really excited. At the end of the day, this is what I wanted. I am happy to stay here and keep growing with the team."

Horford, 24, has been Atlanta's starting center since the team selected him with the No. 3 overall pick in the 2007 draft out of Florida. He was named to his first All-Star team last season and this year coach Larry Drew designated him a team captain along with Joe Johnson and Josh Smith.

Monday was the deadline for the Hawks and Tellem to agree on a contract extension that begins in the 2011-12 season. Otherwise Horford would have become a restricted free agent next summer, with the Hawks holding the right to match any offer he received from another team.

Horford and Tellem met with Hawks officials Monday afternoon to finalize the extension, which Horford said also would include performance incentives.

“It happened like I’ve been predicting: down to the wire,” said Horford, who will make $5.4 million this season.

The Hawks and Horford both had incentives to reach a deal.

The Hawks now don't have to worry about one of the top young frontcourt players in the league possibly leaving as a free agent before next season. Horford has long-term security and avoids entering the free agent market when the expiring collective bargaining agreement might create uncertainty.

Hawks general manager Rick Sund said the team values Horford's production, leadership and potential to improve.

"He's part of what we've done the last couple of years and certainly what we want to do for the future," Sund said. "We've got three starters that are 24, another two or three guys in the rotation who are under 24, a couple of rookies. We've got a good mix of youth, young vets and some people in their prime.

"Al certainly is a big piece of what we've done in the past. Hopefully he will only get better."

As the No. 3 pick in 2007, Horford was eligible for an extension worth up to five years and $82 million under the terms of the current collective bargaining agreement. The final terms of his extension possibly could be altered when the league and players agree to a new CBA but Horford will have a contract that must be honored.

Horford had said all along he hoped to sign an extension with Atlanta because he likes the city and his teammates and he believes the team is on the right track.

“It’s great to be able to get it done and have peace of mind,” Horford said. “It makes me able to come out and just focus on basketball, which is my priority to begin with. So I’m happy about that part.”

Horford’s deal is similar to the contract extension signed by Bulls center Joakim Noah, whom Horford teamed with to win two NCAA championships at Florida. Chicago selected Noah with the No. 9 overall draft pick in the 2007 draft.

As of late Monday Horford, Noah and Oklahoma City's Kevin Durant were the only three players from the 2007 draft class to receive contract extensions. Durant, the No. 2 overall pick, signed a five-year, $85 million extension.

Horford’s deal comes after the Hawks signed guard Joe Johnson to a six-year, $123.7 million free agent contract over the summer. That leaves guard Jamal Crawford as the only core player for Atlanta not signed beyond this season.

Crawford, who will make $10.1 million this season, has told the team he wants to be traded if he doesn't receive a contract extension he considers satisfactory.