Rockets’ Yao signs five-year extension

WASHINGTON (Reuters) – Houston Rockets All-Star center Yao
Ming signed a five-year contract extension Wednesday, according
to media reports.

The new pact, signed in Beijing, should keep the
24-year-old with the Rockets through the 2010-11 season,
sources familiar with the negotiations told the Houston
Chronicle.

In three seasons with the Rockets, the 7-foot-5 Chinese
center has averaged 16.4 points and 8.5 rebounds. He has made
the All-Star team in each of his NBA seasons.

Using current salary cap figures, Yao’s new contract would
be worth $80.9 million over five years, the Chronicle reported.

Next season, the last of his rookie contract, Yao will earn
$5.5 million.

Yao, the number one overall pick in the 2002 NBA draft, had
said for more than a year that he hoped to play his entire
career with the Rockets.