West Receives Contract Extension to Continue Running the Lakers

Having just lost a coach, Laker owner Jerry Buss made sure of his general manager Friday, signing Jerry West to a long-term contract extension.

No terms were announced. Insiders estimate West’s new salary at $1 million, which would make him the game’s highest-paid general manager.

“Obviously I’m very excited about this,” West said. “I think when you’ve been in one place as long as I’ve been with this team, it feels good to know you’re wanted.

“I’ve said it before and I’ll say it again, I’ve been associated with the best owner in all sports and I certainly wouldn’t have wanted to go anywhere unless he didn’t want me. We’ve got a task to perform here and we want to get to it.

“When there are rumors and you don’t have the answers, it just leads to more rumors. I’m glad to have it over.”

Speculation about West leaving the Lakers began circulating last winter when his friend, Brentwood developer Jim Thomas, bought controlling interest in the Sacramento Kings. Thomas was reportedly prepared to sell West part of the team and let him run it.