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It's official: Coach K will continue with USA Basketball

Duke's Mike Krzyzewski formally announced Thursday at a press conference on campus that he will continue as USA Basketball's coach at least through the 2016 Olympics.

The development was previously reported by CBSSports.com.

"It's the ultimate honor to coach your country's team," Krzyzewski said.

Krzyzewski has accumulated a 62-1 record with USA Basketball while winning gold medals in the 2008 Beijing Olympics and 2012 London Olympics. The 66-year-old Hall of Famer previously stated he planned to walk away before the 2014 FIBA World Championship in Madrid. But he's now decided otherwise and will coach USA Basketball in Madrid in 2014 and in Rio de Janeiro in 2016.

One player involved will be Brooklyn's Deron Williams.

He commented on Twitter on Thursday.

"Coach K is an incredible leader," Williams tweeted. "Playing for him and representing my country has been a blessing in my career, and I'm glad he will be back."

Krzyzewski is the winningest coach in college basketball with 957 career victories. He's won four national championships and made 11 Final Fours. His Blue Devils are expected to be a preseason top-10 team when the AP poll is released in October.

But first things first: USA Basketball's next minicamp is scheduled for July in Las Vegas.

"We have the best talent," Krzyzewski said. "Now we have to develop the best team. We've been able to do that the last three competitions."

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