Jim Paxson's tenure with the Cavaliers has had its peaks and valleys as the franchise endured a hard rebuilding process.

The Cavaliers senior vice president and general manager will be around, though, to see if his long-term plans pay off. According to a league source, the team has rewarded Paxson with a contract extension, which is expected to be announced by team owner Gordon Gund this morning.

Terms of the deal were not immediately known.

Paxson, a Dayton native and former NBA All-Star, took over for Wayne Embry in 1998 and was about to begin the final guaranteed year of his contract.

Paxson's credits include trading Shawn Kemp with $75 million remaining on his contract and unloading Bobby Sura's deal to help free salary space.

His sign-and-trade deal with Chris Gatling and Miami in 2001 produced a diamond-in-the-rough Ricky Davis. His decision to pick Andre Miller with the No. 8 pick in 1999 proved wise, and the early returns on the 2002 draft with Dajaun Wagner and Carlos Boozer have been positive.