Oklahoma City, OK (Sports Network) - The Oklahoma City Thunder agreed to a multi-year contract extension with forward Serge Ibaka on Saturday.

Yahoo! Sports is reporting the deal to be worth $48 million over four years.

"We are very excited that Serge will continue as a core member of the Thunder for years to come," general manager Sam Presti said.

Ibaka, 22, averaged 9.1 points, 7.5 rebounds and a career-high 3.6 blocks per game last season, his third with the Thunder.

A first-round pick (24th overall) back in 2008, the 6-foot-10 Ibaka has spent his entire career with Oklahoma City, posting averages of 8.5 points, 6.9 boards and 2.4 blocks.

He also was a member of Spain's silver medal-winning squad at the London Olympics this summer.

08/18 13:16:30 ET