April 2, 2012; Washington, DC, USA; Washington Wizards owner Ted Leonsis watches from court side against the Milwaukee Bucks in the second half at Verizon Center. The Bucks won 112-98. Mandatory Credit: Geoff Burke-US PRESSWIRE

Wizards Announce Return Of Ernie Grunfeld As President

Washington Wizards' owner Ted Leonsis agreed to a deal with club President Ernie Grunfeld, whose contract was set to expire at the end of this season.

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Ernie Grunfeld Says Wizards Are In 'Year Two Of A Three-Year Rebuild'

The Washington Wizards are retaining president Ernie Grunfeld, who has been with the organization for the last nine years. Some like it. Others don't. Grunfeld recently signed a two-year extension, which would keep him with the Wizards through the 2013-2014 season. After the announcement on Tuesday, he met with the media for about 15 minutes, discussing a range of topics and also conceding that the Wizards are in the second year of a three-year rebuilding plan.

"We're a competitive team. Obviously, we still have a lot of work to do, this is year two of a three- year rebuild so we're moving to a direction where we want to be more competitive next year, we want to compete harder on a nightly basis. Our young guys need to continue to develop, we're going to have another high pick that we're going to have to get into the mix so it remains to be seen exactly where we are in that rebuild."

The Wizards, at 18-46, currently have the second-worst record in the NBA behind the Charlotte Bobcats. As a result, they are expected to obtain a high selection in June's NBA draft, which is largely considered to have far more talent than in recent years.

For more news, analysis, and discussion on the Wizards, visit Bullets Forever, SB Nation's Wizards blog. For all your NBA news and notes as the playoffs approach, be sure to keep up with SB Nation's NBA hub.


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Washington Wizards Announce Return Of Ernie Grunfeld As President

The Washington Wizards have sent out a press release announcing that they have reached an agreement with President Ernie Grunfeld on a new contract. Here is what Grunfeld had to say about coming back to the organization, and the steps that are coming up next.

"I’m excited to continue the process of rebuilding this team and excited about the direction that we’re headed," said Grunfeld. "We’ve seen significant progress from our young players and positive contributions from our veterans that have us very optimistic about our future and very eager to take the next steps to continue to improve."

Wizards owner Ted Leonsis posted on his blog about the agreement, and he had this to say about the next stage in development for the young Wizards.

I give credit to Ernie for putting us in this position so quickly, but, like you, I now expect the Wizards to transition from a work-in-progress to a team that competes for a playoff spot.

The Wizards will be hosting a press conference at Noon on Tuesday to announce Grunfeld's return.

For more news, analysis, and discussion on the Wizards, visit Bullets Forever, SB Nation's Wizards blog. For all your NBA news and notes as the playoffs approach, be sure to keep up with SB Nation's NBA hub.

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Ernie Grunfeld Will Remain With Wizards After Reaching Deal With Ted Leonsis, According To Report

The Washington Wizards' President Ernie Grunfeld has agreed to a deal with owner Ted Leonsis which will keep him with the club for more than one year, according to a report from The Washington Post's Michael Lee. Grunfeld's current deal was scheduled to expire at the end of this season, but Leonsis was pleased with the work he did clearing cap space and arranged a deal to keep him with the club, where's he worked in the same position since 2003. Via Michael Lee of The Washington Post:

Grunfeld and owner Ted Leonsis have tentatively agreed to a deal that is believed to be for more than one year, a deal that would keep the team's architect in Washington contractually until at least the end of the 2013-2014 season. Financial terms were not known, but Grunfeld's present deal was set to expire at the end of this season.

It appears that Leonsis did not bother engaging or interviewing other prospective candidates for the position, as Lee also reported that the owner had cut off communication with the agents for potential replacements for Grunfeld. But with this latest announcement, the man who's overseen the last ugly four-year stretch will have a chance to build on the cap space he's created and draft picks he's acquired.

For more news, analysis, and discussion on the Wizards, visit Bullets Forever, SB Nation's Wizards blog. For all your NBA news and notes as the playoffs approach, be sure to keep up with SB Nation's NBA hub.

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Ernie Grunfeld Has Not Been Offered A Contract Extension By Wizards, According To Report

Contrary to a report that came out in the past few days, Ernie Grunfeld was not offered, then declined, a contract extension with the Wizards.

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