The Brooklyn Nets are finalizing the details of a multiyear contract extension for general manager Billy King, according to Yahoo! Sports.
A formal announcement is expected in the near future, sources said.
King's current contract is set to expire after the season. Sources told Yahoo! Sports King and the Nets have been discussing a new deal since the fall. Under King, the Nets have used the acquisitions of Deron Williams, Joe Johnson and Brook Lopez to rise from a lottery team to 49 wins this season and the No. 4 seed in the Eastern Conference playoffs. The extension should end speculation that Phil Jackson could be in the Nets' future. Jackson has been quoted saying he's interested in returning to the NBA in a front-office role rather than as a coach.