The Kings officially signed president of basketball operations Geoff Petrie to a three-year contract extension on Tuesday.

Petrie's contract was set to expire at the end of the season.

"There's hope for the future," Sacramento co-owner Gavin Maloof said. "One day I certainly believe there will be multiple championships with this team the way they grow. I don't know if it will be next year or the year after but it will be in the future."

The Kings are off to a surprising start this season.

"I'm still living a boyhood dream," Petrie said. "I happen to be in a group of people who think the opportunity to work at this level in the NBA is a real honor and a real privilege."