After leading the Milwaukee Bucks to the franchise's first NBA championship in 50 years, coach Mike Budenholzer has signed a multiyear contract extension with the team.
The deal, announced Tuesday night, is for three years, sources told ESPN.
Budenholzer -- who was entering the final year of his contract -- now ties himself to the Bucks through the 2024-25 season. His extension punctuates three seasons that include a trip to the Eastern Conference finals and the championship victory over the Phoenix Suns in July.
"The appreciation I have for being a part of the Bucks organization is hard to express," Budenholzer said in a statement. "The players make the success happen on and off the court. We have the best players and to them I am grateful. They've grown and we've grown together during the last three seasons.
"We all can't wait to get back to work and face the great challenge of competing again for an NBA Championship. ... Let's keep getting better and building great teams and doing great work on and off the court."
A two-time NBA Coach of the Year, Budenholzer is 31-17 in the playoffs as Bucks coach, including the 2021 NBA title and trips to the conference finals and semifinals. He is 172-65 as Bucks coach in the regular season.
"Bud is a great coach and a fantastic partner to work with every day as we build a team that consistently competes for championships," said Bucks general manager Jon Horst. "We're extremely grateful for the leadership Bud provides, and we look forward to building on the success we've had over the last three years and congratulate Bud on this well-deserved extension."
Before arriving in Milwaukee in 2018, Budenholzer led the Hawks to the playoffs in four of his five seasons in Atlanta. He had a 213-197 record with the Hawks.