The Oklahoma City Thunder are set to reward Russell Westbrook’s historic season with a massive five-year extension worth more than $200 million. Westbrook bagged the Most Valuable Player Award after becoming the second player to average a triple-double for the regular season. After he was handed the trophy, Westbrook said signing a contract extension is far from his mind at the moment.

Westbrook is under contract for two more years after signing a three-year, $86 million deal with the Thunder last season. He is scheduled to earn $28.5 million next season with a player option for 2018.

However, Royce Young of said the Thunder will sign Westbrook to an extension when free agency begins Saturday. Westbrook has no problem signing an extension because he likes the current composition of the team and has been close with top officials and coaching staff within the organization.

Royce said the move is intended to avoid the situation the Thunder had with Kevin Durant last season. Durant’s contract with the Thunder expired, allowing him to become an unrestricted free agent and sign a contract with the Golden State Warriors. While the Thunder were booted out in the first round of the playoffs, Durant and the Warriors went on to win the NBA championship, beating the Cleveland Cavaliers in five games.

Westbrook edged James Harden, Kawhi Leonard for MVP trophy

Westbrook, who became the 10th guard to win the award, garnered a total of 888 points after receiving 69 first-place votes compared to just 22 for James Harden of the Houston Rockets and nine for Leonard. Harden collected 753 points while Leonard had 500 total points.

Westbrook became the second man to average a triple-double in a season, finishing with 42 triple-doubles to eclipse the previous mark of 41 set by Oscar Robertson. Westbrook led the league in scoring with an average of 31.6 points per game on top of 10.7 rebounds and 10.4 assists.

Westbrook’s emotional MVP speech

During his speech, he called teammates Victor Oladipo, Nick Collison, Andre Roberson and Enes Kanter his “brothers” and invited them to the stage to acknowledge their contribution to his historic season.

Westbrook got emotional as he thanked his family, who were in attendance. He specifically mentioned his younger brother, Raynard, whom he said still texts him “every single game” during halftime. "I couldn't thank everybody, but thanks, you guys, to everybody who helped me along the way," Westbrook said in his acceptance speech.