The San Antonio Spurs signed Tony Parker to a contract extension on Friday, ensuring that the veteran point guard will continue to lead the defending champions in the next several years.

The Spurs announced the agreement on their official website, but terms of the deal were not disclosed. ESPN's Marc Stein reported, though, that Parker secured a three-year, $43.3 million contract that will begin after his current deal expires after next season.

Parker, who has spent his entire 13-year NBA career in San Antonio, showed signs of slowing down last season, averaging just 16.7 points in the regular season, which was one his lowest scoring averages in his career.

But despite the decline in his point production, Parker showed up where it mattered the most as he played a big role in San Antonio's NBA Finals victory against the Miami Heat. The 32-year-old point guard averaged 17.4 points on 48.6 percent shooting in the playoffs.

"I'm very happy and I want to play for the Spurs my whole career and be a Spur for life," Parker said. "I love San Antonio and want to live here when my career is over. I love the city, I love the people and our great fans. I couldn't be happier."

The six-time All-Star has won four NBA championships in San Antonio and was named as the Finals Most Valuable Player in their 2007 title campaign.

Parker has played in 196 playoffs games and only Tim Duncan and Kobe Bryant have appeared in more post-season games among active players today.

With the extension, Parker along with Duncan and Manu Ginobili will likely finish their respective careers in San Antonio barring any unexpected trades in the next several seasons.

Duncan recently opted in to the final year of his contract that pays him $10.36 million next season, while Ginobili will also play in the final season of his deal that pays him $7 million. Both players are expected to sign extensions as well once their respective deals end.

"It's unbelievable and I don't take it for granted," said Parker, who averaged 18.9 points and 5.3 assists in 196 playoff games. "It's unbelievable what we've accomplished and hopefully we can do more together."

Related