MILWAUKEE (CBS 58) -- The Milwaukee Bucks and guard Jrue Holiday have agreed to a multi-year contract extension. It was announced Sunday, April 4.

Officials say, as part of the agreement, Holiday declined his Player Option for the 2021-22 season and agreed to a four-year contract extension worth $135 million with a potential for $25 million in bonuses over the length of the deal.

"I'm a Buck for life." - @jrue_holiday11pic.twitter.com/wTVog8z7fc

— Milwaukee Bucks (@Bucks) April 4, 2021

Happy Easter!! pic.twitter.com/wainU7o057

— Milwaukee Bucks (@Bucks) April 4, 2021

“We are grateful for the time we’ve been able to spend learning about the Bucks organization, our team and the greater Milwaukee community,” said Jrue and Lauren Holiday. “We appreciate how Jon, Coach Bud and the entire staff, along with our teammates and fans, have supported us since the trade to Milwaukee. We have a special group that wants to put in the work and compete for a championship every year.

Holiday, who scored a season-high 33 points alongside 11 assists in Saturday’s win over the Sacramento Kings, was acquired by Milwaukee in November from New Orleans in a four-team trade. The 12-year NBA veteran has made an immediate impact with the Bucks and is averaging 17.0 points, 5.4 assists, 4.6 rebounds per game over 38 appearances with Milwaukee this year.

“We’re incredibly blessed to stay here, and we believe Milwaukee will be home for our family for many years to come.@Jrue_Holiday11 explains why he signed an extension with the @Bucks. pic.twitter.com/MYR3PnFTIb

— Scott Grodsky (@ScottGrodsky) April 4, 2021

The signing locks in the Bucks "Big Three" for the next several years. In 2019, small forward Khris Middleton signed a five-year, $178 million deal and in 2020, two-time MVP Giannis Antetokounmpo penned a five-year, $228 million extension with Milwaukee.