According to Yahoo! Sports' Adrian Wojnarowski, the Nets are finalizing a contract extension for their general manager:
The Brooklyn Nets are finalizing a multi-year contract extension with general manager Billy King, league sources told Yahoo! Sports.
A formal announcement is expected in the near future, sources said.
King's contract was set to expire this summer, but talks have been ongoing since the fall on a new deal.
King has been at the forefront of the franchise's rebirth since assuming his role in summer 2010.
Since then, he has made trades for Deron Williams, Gerald Wallace and Joe Johnson, the latter of which ensured that Williams would then re-sign with the Nets last summer. King also re-signed now-All-Star center Brook Lopez over the offseason.
When King took over as the team's general manager, the Nets were fresh off a 2009-10 campaign that saw them go 12-70. Three years later, they finished the regular season 49-33 and in the top four of the Eastern Conference.
Improving the roster so that the organization could win 37 more games in just three seasons is no small feat. Even though majority owner Mikhail Prokhorov has given King the financial means to do just about anything, King was responsible for keeping the roster flexible enough to get to this point.
It's then no surprise that the Nets have elected to keep him in the fold. Not only has he helped bring the team this far, but there's still plenty of work to be done.
Following the departure of Avery Johnson, P.J. Carlesimo—under the title of interim head coach—has guided Brooklyn to a top-four conference finish. King will have to decide whether to retain him or pursue other avenues and bigger names this summer.
There are also a lot of questions surrounding the Nets roster that King will be tasked with providing answers to.
Was retaining Billy King the right move by the Brooklyn Nets?
The team owes nearly $90 million in salary next season, almost $78 million heading into 2014-15 and more than $72 million in 2015-16. Despite a lucrative payroll, Brooklyn isn't considered a polished enough championship product. Though the Nets' postseason run will play a significant role in determining where King goes from here, you can assume he'll be expected to find ways to advance their progress even further, capped out or not.
Their financial outlook can be depicted as bleak, and the Nets do have a few undesirable contracts on their hands, but everything King has done has been out of necessity. The team wanted to be in a position to win, and he's put them there.
Given the dire straits Brooklyn was in when he arrived, it's not inconceivable to believe he'll get the job done moving forward in spite of the team's financial constraints. You have to think that he'll find ways to improve the roster by somehow shedding salary or exploring trades, or both. Just like he has done all along.
Looking at where the Nets are now compared to where they were just a few years ago, extending King's contract wasn't just the right decision—it was a no-brainer.