ESPN's Adrian Wojnarowski reports the extension is a three-year deal worth $72.3 million.
Aldridge has seen a sizable drop in production over the course of his two seasons in San Antonio, but the two parties remain committed to each other for at least the near future. He had $21.4 million left on his contract and could have opted out for his 2017-2018 contract to become a free agent.
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In June, the Spurs reportedly shopped Aldridge around around the National Basketball Association draft in June but no deal ever materialized. As a result of his 11-year National Basketball Association career as a whole, he is now averaging 19.1 points and 8.3 rebounds per contest. Nevertheless, Aldridge arrived in training camp in strong shape and with a better relationship with Spurs coach Gregg Popovich, and both sides understand that the uncertainty of free agency next summer could make an extension a wise option.
"The success he's had, the stability that he's brought to the franchise is just underappreciated", Spurs general manager R.C. Buford told ESPN.com last May. Aldridge just doesn't seem to be a great fit for this team. He is pictured on April 23, 2014 in Houston, Texas.