The Portland Trail Blazers have signed coach Chauncey Billups to a multiyear contract extension, general manager Joe Cronin announced Sunday.

Trail Blazers officials negotiated a new deal with Billups' representation, Andy Miller of Klutch Sports, as the coach was finishing his fourth season and the final guaranteed year on his contract Sunday.

The Trail Blazers also reached a multiyear extension with Cronin on Monday to fortify their leadership structure. Cronin and Billups have spoken publicly about their friendship spanning decades, making for a cohesive GM-coach relationship.

"Chauncey Billups is a great leader, motivator and communicator that has worked tirelessly to establish an identity for this team that has taken shape over his time in Portland," Cronin said in a statement. "I am beyond excited to continue this partnership with Chauncey and take this team to the next level."

Portland is 35-46 and out of playoff contention entering Sunday's regular-season finale against the Los Angeles Lakers. But Billups has led the Trail Blazers to a 22-18 record since Jan. 19, ranking in the top five in the NBA in defense and third in transition defense during that span, according to ESPN Research.

In guiding the third-youngest roster this season by playing time, Billups led the development of several players, including Deni Avdija, Shaedon Sharpe and Toumani Camara. The Trail Blazers have been building around a mix of veterans such as Anfernee Simons, Jerami Grant, Deandre Ayton and Avdija along with young talent in Sharpe, Camara, Scoot Henderson and Donovan Clingan.

"We are building this team the right way with a defensive-minded, hard-nosed, competitive culture," Billups said in a statement. "I look forward to continuing to give Rip City fans a product on the court that they can be proud of and cheer for every night."

Billups is 116-211 in his four seasons as Trail Blazers coach, his first head-coaching opportunity. Portland's 35 wins this season are its most since 2020-21, when it made its last playoff appearance.

Inducted into the Naismith Memorial Basketball Hall of Fame last year, Billups won an NBA championship with the Detroit Pistons in 2004, when he was the Finals MVP, and was a five-time All-Star over a 17-year NBA career spent primarily with the Pistons and Denver Nuggets.