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Nets sign GM Billy King to contract extension

NEW YORK (AP) - Coming off their first season in Brooklyn in which the franchise ended a six-year playoff drought, the Nets have signed general manager Billy King to a contract extension.

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King, hired by the Nets in 2010, put together a that went 49-33 in its first season after moving from New Jersey, matching the second-best record in franchise history.

``Billy has been a great asset to the Nets organization over the last three years'', Nets owner Mikhail Prokhorov said in a statement announcing the extension on Friday. ``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.''

Terms of the deal were not disclosed.

After a 79-76 loss at Chicago on Thursday night, the Nets trail the Bulls 2-1 in the first-round playoff series. Game 4 is Saturday at Chicago, with Game 5 set for Monday night back in Brooklyn.

Before joining the Nets, King spent 10 years with the 76ers, serving as the team's president from 2003-2007.

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