UPDATE: It's official. The Trail Blazers announced that Stotts has signed a multi-year extension on Thursday. "Terry has done an outstanding job during his first two years with the organization," Portland general manager Neil Olshey said in a statement. "This extension illustrates our confidence in him as our head coach as well as the Portland Trail Blazers' continued commitment to building a model of consistency and stability."
After a 33-win season in Terry Stotts first year coaching the Portland Trail Blazers, the Blazers took their coach's beautiful offense and ran it to the fullest en route to 54 wins and the fifth seed in the Western Conference. The Blazers were just knocked out of the second round in five games by the San Antonio Spurs, after beating the Houston Rockets in six games in the first round. It was the first time since 2000 that Portland advanced past the first round of the playoffs.
Stotts was heading into the third year of a three-year contract he signed in 2012, which was a team option. According to Adrian Wojnarowski of Yahoo Sports, the Blazers are working on a multiyear contract extension with Stotts that will keep him in Portland for a while long.
After a remarkable franchise turnaround, Portland Trail Blazers coach Terry Stotts is nearing agreement on a multiyear contract extension, league sources told Yahoo Sports.
The Blazers hold an option on the third and final year of Stotts' contract for 2014-15, but that'll likely be torn up and replaced with the new deal.
Blazers general manager Neil Olshey and Stotts' agent Warren LeGarie have been working on the deal, and it's expected to be finalized in the near future, league sources said.
Stotts took over a 28-win Blazers team and in two years nearly doubled their win total. The Blazers had the fifth best offense in the league this season after posting the 16th best offense in the NBA in Stotts' first season as coach. He took over after being an assistant coach with the Dallas Mavericks from 2008-2012, including the 2011 title run. He previously was the coach in Milwaukee from 2005-07.