"Diana is the backbone of our franchise," General Manager Ann Meyers Drysdale said in making the announcement Thursday.

"She is a WNBA, Olympic and NCAA champion and is the consummate team player. We understood the importance of bringing her back and are thrilled that she will remain in Phoenix for another three years."

The 6-foot Taurasi will be in her fifth season with the Phoenix team when the WNBA begins its 2008 schedule May 17.

"I am thrilled to re-sign with the Mercury," Taurasi said. "I enjoy playing in Phoenix and am glad they want me back."

Taurasi averaged 19.4 points per game in the WNBA and leads the league in three-point field goals with 95.

Before turning pro, Taurasi led the University of Connecticut Huskies to three straight NCAA women's national championships. She was the No. 1 overall pick in the 2004 WNBA draft.