Jabari Smith Jr. and the Houston Rockets have officially reached an agreement on a lucrative five-year contract extension worth a total of $122 million, ensuring that the talented young forward will continue to play a pivotal role for the team through the 2029-2030 NBA season.

Houston and the former No. 3 overall pick have reportedly agreed to a 5-year extension.

From NBA.com News Services

Jabari Smith Jr. has been a part of Houston’s rise since being drafted 3rd overall in 2022.

The Houston Rockets reportedly continue to secure their short and long-term future, this time by agreeing to a long-term contract extension with forward Jabari Smith Jr.

Multiple reports have Houston and Smith Jr. coming to terms on a five-year extension worth roughly $122 million. The extension would begin in the 2026-27 season, with the upcoming season being the last from his rookie contract.

The Rockets drafted Smith Jr. third overall in 2022, and the 6-foot-10 forward has flashed valuable versatility as Houston has climbed toward contender status in the Western Conference. Smith Jr. averaged 12.2 points and 7.0 rebounds across 57 games last season, including 39 in the starting lineup. He has shot 43.2% overall and 34% from 3-point range across his career.

Houston is coming off its most successful season in half a decade after finishing with a 52-30 record and the No. 2 seed in the Western Conference. The Rockets, however, were upset by the seventh-seeded Golden State Warriors in their best-of-seven first-round series.

The Rockets have been aggressive building on that momentum this offseason. They have reportedly agreed to acquire 15-time All-Star Kevin Durant in a trade with the Phoenix Suns, a deal in which they managed to exclude nearly all of their young core aside from shooting guard Jalen Green.

Houston has also reportedly come to terms on contract extensions with head coach Ime Udoka and veteran center Steven Adams. The Rockets also reportedly plan to re-sign Fred VanVleet, Jae’Sean Tate, Aaron Holiday and Jeff Green.