The Washington Wizards signed point guard John Wall to a contract extension on Wednesday.

Terms of the deal were not disclosed but according to the Washington Post, the contract is for five years and worth $80 million. The deal will kick in at the start of the 2014-15 season and keep him in Washington until 2019.

"Since drafting John with the first overall pick, we have been impressed with his maturation, hard work and commitment to our franchise," said Monumental Sports and Entertainment Founder, Chairman, Majority Owner and CEO 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. We are extremely confident in his leadership abilities and are excited to see the continued improvement of the team."

Last season, Wall averaged a career-high 18.5 points and 44.1 percent shooting, as well as a team-leading 7.6 assists in 49 games (42 starts). He missed the first 33 games of the season due to a stress injury in his left patella.

The first overall pick in the 2010 NBA Draft, Wall has career averages of 16.9 points, 8.0 assists, 4.4 rebound and 1.5 steals in 184 games. He is one of four players in NBA history (Magic Johnson, Chris Paul and Damon Stoudamire) to average at least 16.5 points, 7.5 assists, 4.0 rebounds and 1.5 steals over the first three years of their career.

"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," said Wall. "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."