Sources: Klay Thompson agrees to extension with Warriors

Klay Thompson reached agreement on a four-year, $70 million contract extension with the Golden State Warriors, sources told Yahoo Sports.

Thompson and the Warriors came to an agreement about seven hours before the contract extension deadline at midnight ET. The fourth-year Warriors guard would have been a restricted free agent next summer if a deal wasn't reached. Thompson's new contract includes no opt-out on either side and begins the 2015-16 season.

The four-year, $70 million contract extension Thompson landed is in the range of what is projected to be a maximum contract that he firmly wanted. Warriors co-owner Joe Lacob had been steadfast about not offering a maximum contract prior to Friday. Thompson and his camp were privately frustrated about not getting a maximum contract being prior to Friday and were prepared to go into free agency next summer, source said.

The Sacramento Kings made an unsuccessful push in hopes of trying to acquire Thompson, sources told Yahoo Sports.

Thompson averaged 18.4 points, 3.1 rebounds and 2.8 3-pointers made per game for the Warriors last season. The son of former NBA player Mychal Thompson helped his stock with a strong performance for USA Basketball's gold-medal-winning World Cup team this past summer.

More NBA coverage: