Lou Williams Signs a Three-Year, $24 Million Contract Extension with the Los Angeles Clippers

Los Angeles Clippers guard Lou Williams is officially off the trade market.

The Clippers have announced that they have reached an agreement with Williams on a contract extension.

"He is professional, committed, and very competitive. We are excited that he will continue his impressive career as a Clipper," Clippers president of basketball operations Lawrence Frank said in a statement, via NBA.com.

"I am very happy to be staying here in L.A. as a Clipper," Williams said, according to NBA.com. "It's a great organization with a positive culture and I like where we are headed as a basketball team. We have a great group of guys here. I have been on a lot of teams and a lot of times these situations don't always go my way, this one did and I am thankful for that," he continued.

The team did not disclose the terms of the deal, but Yahoo Sports' Shams Charania has reported that the veteran guard inked a three-year, $24 million extension with a $1.5 million partial guarantee in the final year of the deal.

Williams has been the subject of multiple trade rumors in the past few weeks, but he cannot be dealt for six months after signing a contract extension. That means his suitors will have to turn elsewhere if they want to add an explosive scorer off the bench before the trade deadline on Thursday.

Williams is enjoying a career season in his 13th year as a pro. He is averaging 23.3 points (career high), 2.5 rebounds, 5.3 assists, and 1.1 steals in under 33 minutes a game for the Clippers this season, and he is shooting 43.9 percent from the field, 38 percent from beyond the arc, and 90 percent from the free-throw line.

The veteran guard is currently leading the National Basketball Association (NBA) in scoring off the bench.