Billy King, Mikhail Prokhorov on King's extension

Jeff Zelevansky

In comments accompanying Friday's announcement that the Nets have extended Billy King's contract, King and his boss expressed confidence that the relationship will continue to produce wins for the team.

"Billy has been a great asset to the Nets organization over the last three years", Mikhail Prokhorov said. "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", said King.

The Nets official announcement made note of King's accomplishments...

In his three seasons as general manager, King overhauled the Nets roster, first by making a mid-season blockbuster trade for Deron Williams in 2011, and then by completing his All-Star backcourt with the July 2012 acquisition of six-time All-Star Joe Johnson. Adding Gerald Wallace via a trade in March 2012, King then spearheaded the re-signings of Williams, Wallace and All-Star center Brook Lopez this past summer.

Among King's next assignments: finding a full-time head coach and making use of the team's first round pick in the 2013 NBA Draft, to be held at Barclays Center on June 27. It will be the first time that King will have the Nets own pick, having dealt the 2011 first rounder to the Jazz for Williams and the 2012 first rounder to the Blazers for Wallace.

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