The New York Knickerbockers have signed Isiah Thomas to a multi-year extension as the team’s president and head coach, it was announced today. Terms of the deal will not be disclosed.

“Isiah Thomas’ stewardship of the Knicks, both as president and head coach, has clearly resulted in the team’s ‘significant improvement’ and I am very pleased to provide him with this well deserved extension,” said James L. Dolan, chairman, Madison Square Garden and president and CEO, Cablevision Systems Corporation. “The Knicks have grown tremendously, both in terms of team performance and player development, and much of the credit goes to Isiah and his staff.”

Under Thomas’ tenure as both president and head coach, the Knicks have built a solid foundation and created team chemistry that can be built upon for years to come. The team has improved to an overall record of 29-34 after a victory at Washington on Saturday night, eclipsing last year’s win total, and increasing production in almost every statistical category. In addition, several players have enjoyed standout years, including Eddy Curry, Stephon Marbury and David Lee.

“While we clearly remain in a rebuilding process and have significant work ahead of us to become an elite team in the NBA, I feel strongly that this is a much better team, with a very bright future,” Mr. Dolan added. “I look forward to the team’s continued hard work in pursuing a playoff spot, and in doing everything we can to earn the continued allegiance of New York Knicks fans.”

Currently with the eighth-best record in the Eastern Conference, the Knicks are in the final playoff position, just ½ game out of the seventh spot and five games behind Atlantic Division-leading Toronto with 19 games remaining on the 2006-07 schedule.