Nuggets sign George Karl to contract extension

The Nuggets and head coach George Karl have agreed to a contract extension through the 2010-11 NBA season, the team announced today.

As per team policy, financial terms of the deal were not disclosed. We’ll post info on it tonight.

Since taking over as Nuggets coach on Jan. 27, 2005, Karl has guided Denver to the playoffs in each of the past five years, including a trip to the 2009 Western Conference finals.

At 35-18, the Nuggets currently are second in the West, earning Karl the honor of coaching the Western Conference team at the NBA All-Star Game Sunday in Arlington, Texas.

“We are pleased with the progress the Nuggets have made over the last five years. George has played a pivotal role in our success. His extension is well-deserved,” Nuggets owner Stan Kroenke said. “George and our entire organization remain focused on one goal: Bringing an NBA championship to Denver.”

Now in his 22nd season as an NBA head coach, Karl has taken his teams to the playoffs 18 times, and he has not had a losing season since 1987-88. His 260 victories with the Nuggets rank second in franchise history (Doug Moe, 432), while his .618 winning percentage is unmatched.

“I’ve always said Denver is the only place I want to coach,” Karl said. “Mr. Kroenke’s leadership and his commitment to my staff, players and Nuggets fans are second to none. I have a great deal of respect for Stan, personally and professionally. I look forward to working with him as we pursue our common goal of winning an NBA title.”

Overall, Karl has as a career regular-season record of 968-660 with Cleveland, Golden State, Seattle, Milwaukee and Denver. His victories rank seventh in NBA history.