ORLANDO - Orlando Magic coach Stan Van Gundy has reached a deal on a contract extension with the National Basketball Asscociation team.

The Magic also decided to extend the contract of general manager Otis Smith, the Orlando Sentinel newspaper reported on Monday.

Smith became general manager in 2006 and hired Van Gundy a year later.

Van Gundy has recorded a 111-53 record in two seasons coaching the Magic. He led Orlando to a 59-23 mark and a trip to the NBA finals last season for the first time since 1995 before they lost to the Los Angeles Lakers in five games.