The Brooklyn Nets announced on Friday that they have signed Billy King to a contract extension.
"Billy has been a great asset to the Nets organization over the last three years," Mikhail Prokhorov said in a statement. “He has shown he is not afraid to be bold and take risks, and, as a result, we have a playoff team with a world of potential. We are glad we will have the opportunity to continue our work together and realize that potential."
"I am anxious to continue working hard for Mikhail Prokhorov and the Brooklyn Nets," King said.
King, who was named general manager of the Nets on July 14, 2010, presided over a team that posted a 49-33 record in the franchise’s inaugural season in Brooklyn, matching the second best record in Nets’ history, while making their first postseason appearance in six seasons.