WASHINGTON (CBSDC) — The Wizards have signed point guard John Wall to a 5-year, $80 million contract extension, a source tells 106.7 The Fan’s Sky Kerstein.

“Since drafting John with the first overall pick, we have been impressed with his maturation, hard work and commitment to our franchise,” said Wizards owner Ted Leonsis.

“He is the cornerstone of our team, and we have clearly expressed our desire to build around him well before making it official by re-signing him today,” Leonsis continued. “We are extremely confident in his leadership abilities and are excited to see the continued improvement of the team.”

Wall was selected by Washington with the first overall pick in the 2010 NBA Draft. He’s averaged 16.9 points, 8 assists, 4.4 rebounds and 1.5 steals per game through 184 career starts.

“I am both proud and humbled by the belief that the Wizards organization, the fans and my teammates have shown in me since I arrived here three years ago,” Wall said. “I can promise all of them that I will repay that belief by representing the city of Washington and doing everything I can to get this team back where it belongs.”

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