Five-time All-Star guard Russell Westbrook has signed a contract extension with the Oklahoma City Thunder, the NBA team said Thursday. The news is a consolation for the franchise, coming nearly one month after Westbrook's fellow All-Star Kevin Durant left for the Golden State Warriors. Terms of the contract were not announced, but multiple media reports said it was for three-years and $86 million. After the announcement, Westbrook briefly addressed a crowd of about 1,500 people in front of Chesapeake Energy Arena before entering the lobby, where highlights of his eight-year career with the Thunder were played on a large screen. Westbrook said that people in the Thunder organization — and more generally in Oklahoma City — convinced him that staying with the only team he's ever known was the correct decision. "Me being able to come back here is a true blessing," he said. "There is nowhere else I'd rather be than Oklahoma City. You guys have basically kind of raised me. I've been here since I was 18, 19 years old and you guys have done nothing but great things for me. ... I definitely wanted to have an opportunity to be loyal to you." Westbrook recorded 18 triple-doubles last season, equaling the most in the NBA since Magic Johnson in the 1981-82 season. He averaged 23.5 points, 10.4 assists, 7.8 rebounds and 2.04 steals last season. Westbrook, 27, the fourth pick in the 2008 NBA draft, was due to become a free agent at the end of next season. Westbrook and Durant turned the Thunder into contenders, leading the team to the Western Conference finals last season. They held a 3-1 lead against Golden State before the Warriors won the final three games to clinch the best-of-seven series. In Rio de Janeiro, where he is part of the US Olympic team, Durant said he wouldn't immediately be reaching out to Westbrook to discuss his decision to stay in Oklahoma City. "Nah, that's a touchy deal," Durant said. "At some point, we'll sit down and talk. But I don't know when." Asked if he was happy for Westbrook, Durant said he was. "I'm happy to see any player in this league do whatever they want to do," Durant said. "It's good for him, man. It's good for his family. It's good for the people in Oklahoma City that love to watch him play and love to have him on their team. So I've got nothing but positive energy and vibes for everybody."