The Oklahoma City Thunder and guard Victor Oladipo have reached agreement on a contract extension, the team announced on Monday. The deal is for four years and $84 million, as first reported by The Vertical's Shams Charania. Oladipo, acquired from the Orlando Magic in the trade that also involved big man Serge Ibaka and rookie Domantas Sabonis last June, is a huge part of the Thunder's future as they try to redefine themselves in the post-Kevin Durant era.

Victor Oladipo drives
Victor Oladipo is sticking around in OKC. USATSI

For Oladipo, the No. 2 pick in the 2013 NBA Draft, this is a nice bit of security and it eliminates the uncertainty of restricted free agency. It's also more money on a per-season basis than former teammate Evan Fournier got -- the Magic signed him to a five-year, $85 million deal last summer.

For Oklahoma City, this seems like a home run. If Oladipo plays as well as the front office hopes he will, he could have commanded a maximum contract next summer. That would have been bad news for the Thunder, who are also reportedly close to a four-year, $100 million deal with center Steven Adams and want to preserve at least a little bit of flexibility going forward.

Of course, Oladipo in some ways still needs to justify this contract. The 24-year-old will be counted on this season to hit 3-pointers consistently and create offense for both himself and his teammates. This is the first season where he has been on a team with real expectations, and while he and guard Russell Westbrook have the potential to be a dynamic duo, it's unclear how well their games complement each other in a half-court setting.