The Portland Trail Blazers are having a great season, appear to have a bright future, and now one of the main guys responsible is being rewarded for it.

The team today signed General Manager Neil Olshey to a multi-year contract extension, owner Paul Allen announced today. In addition, Olshey has been named President of Basketball Operations.

“Our team has made great strides under Neil’s leadership, and I am excited to extend his contract,” said Allen. “Neil has done an outstanding job as General Manager by quickly rebuilding our team into a playoff contender. The franchise is clearly on the upswing, and I hope to see further improvements in the years to come.”

“This extension is a validation of the efforts of the entire Trail Blazers front office and an endorsement of the level of commitment expected of us by our owner Paul Allen,” said Olshey. “The level of passion for this franchise by our owner, season ticket holders and fans, drives us to build a team that this community can be proud of.”

“This is a significant announcement for our organization and our fans,” said Trail Blazers President and CEO Chris McGowan. “I look forward to continuing to partner with Neil to move the franchise forward.”

Olshey became the 10th General Manager in Trail Blazers franchise history when Allen announced his hiring on June 4, 2012. He finished third in NBA Executive of the Year voting after the Trail Blazers finished 54-28 last season – the largest improvement in franchise history and sixth-best record all-time. The Trail Blazers won their first NBA Playoff series in 14 years, defeating the Houston Rockets in six games before bowing out to the eventual 2013-14 NBA Champion San Antonio Spurs in the Western Conference Semifinals.

Olshey came to the Trail Blazers from the Los Angeles Clippers where he served as the team’s Vice President of Basketball Operations for two seasons during a tenure with that franchise that lasted nine years.