Gary Payton Signs 6-Year Contract : Pro basketball: Deal with the SuperSonics is worth more than $12 million, his agent says.

Gary Payton, the second overall pick in the NBA draft, signed a six-year contract with the SuperSonics that his agent says is worth more than $12 million.

“The contract is in excess of $2 million a year,” agent Don DeJardin said Wednesday. “I’m pleased, and I know Gary is happy, very happy.”

Said Bob Whitsitt, the SuperSonics’ president: “You can report it any way you want. . . . What he got is a number we felt comfortable with all along. It’s a very good package for him.”

Payton, a 6-foot-4 point guard from Oregon State, was scheduled to take part in the SuperSonics’ intrasquad scrimmage Wednesday night.

Payton’s contract was hammered out during six hours of negotiations between Whitsitt and DeJardin at the SuperSonics’ offices Tuesday.

The SuperSonics are believed to have raised their initial offer of $1.7 million per season, and DeJardin apparently lowered his proposal of $2.67 million a year. The negotiations had been deadlocked, with no talks for nearly two weeks.

The resolution came after guard Chris Jackson signed a four-year contract with Denver on Sunday. Jackson, the third player taken in the draft, reportedly will receive an average of $2 million a year with the first three seasons of the contract guaranteed.

Forward Derrick Coleman, the No. 1 draft pick, remains unsigned by New Jersey.

Payton finished as the all-time leading scorer in Oregon State history with 2,172 points, averaging 25.7 points as a senior.

He is expected to become starting point guard for the SuperSonics, who missed the playoffs with a 41-41 record last season. Nate McMillan has been the starting point guard for four seasons.

“We don’t want to put a lot of pressure on Gary, but we think he has the potential to be a very good player in this league for a very long time,” Whitsitt said.