Kings, Cousins Reach Multiyear Contract Extension

SACRAMENTO, Calif. (AP) - Vivek Ranadive has made a fortune in the software industry by betting on the right people.

The new owner of the Sacramento Kings is now betting big on DeMarcus Cousins.

The Kings signed Cousins to a four-year maximum contract extension worth a reported $62 million Monday, saying the 23-year-old center is the foundation the franchise will build on to lead a struggling team into a new era.

Sacramento hasn't had a winning season since 2006, but the new Kings management is comfortable investing in a player considered one of the NBA's best young big men but who also has drawn multiple suspensions from both the team and the league for his behavior.

Watch today's press conference with Cousins

"I am excited to continue to be a part of the Kings under the leadership of Vivek Ranadivé and the Sacramento ownership group. I'm also thankful to work alongside Pete D'Alessandro and Coach Michael Malone," Cousins said in a press release on Monday. "I'm anxious to get back on the court with my teammates and can't wait to play again in front of the best fans in professional sports. I plan on showing them my appreciation this season and beyond."

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