Ernie Grunfeld is under contract with the Washington Wizards for the 16-17 season, which is a strong suggestion he'll remain as president.

It is unknown when Grunfeld and Ted Leonsis agreed to the extension.

Grunfeld is the fifth longest tenure chief executive in the NBA.

The Wizards have posted a 440-605 record during Grunfeld’s tenure and advanced to the postseason in six of his campaigns.

Washington took a step backwards this season and will not make the playoffs.