General manager Kevin O'Connor said it is the Jazz's No. 1 priority in the NBA's summer free-agency negotiating period, which opens locally at 10 p.m. Monday night

Point guard Deron Williams said it is something he wants to get done much sooner rather than later and certainly before he leaves later this summer to play with Team USA at the Summer Olympics in Beijing.

"It" is reaching agreement on a multiyear contract extension for the No. 3 overall selection in the 2005 NBA Draft, something both sides seem to agree is inevitable.

"I talked to Kevin about it the other day, and he definitely knows that it's a high priority to get it done as soon as possible, as soon as we can," said Williams, a second-team All-NBA selection after just his third season in the league. "So I'm just going to leave that in his hands and my agent's hands, and hope everything works out."

The Jazz hope the same.

"I know for Kevin it's a key agenda item that we're working on," team president Randy Rigby said, "and I'm strongly encouraging us to get that thing resolved — I think for all of us."

Jazz owner Larry H. Miller already has publicly said he thinks Williams is worth a max-money extension, which — based on Williams' experience and 25 percent of the projected team salary cap for the 2009-10 season — translates to approximately $90 million in salary over the maximum-allowed five years, beginning with about $15 million in '09-10 and peaking at around $21.3 million in the 2013-14 season.

Length-of-extension would seem to be the only remaining issue — three, four or the full five years.

An actual deal can be agreed to as early as late Monday night, but — according to terms of the collective bargaining agreement between the NBA and its players union — cannot be signed until July 9 at the earliest.

But it more than likely will take longer than that.

O'Connor suggested when the negotiating period opens, the Jazz simply will set up a time, date and place to meet with Williams and his representation.

From Williams' perspective, however, there may not be a lot to discuss.

"I don't know if there's going to be much negotiating," the Jazz point said Saturday in Las Vegas, where he was practicing with the Olympic team. "Hopefully we can get it done soon."

But for how long?

In 2006, LeBron James of the Cleveland Cavaliers and Dwyane Wade of the Miami Heat each spurned a five-year extension (then worth roughly $80 million) and instead signed a three-year extension, with a fourth-year option.

Fellow Team USA member Carmelo Anthony of the Denver Nuggets went a different route, signing a four-year extension with a fifth-year option.