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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.

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