In one of the more active days in recent memory, the Washington Wizards agreed to extend the contract of leading scorer Jerry Stackhouse for two more seasons and a path was cleared to hire Milwaukee Bucks General Manager Ernie Grunfeld as their president of basketball operations.

All this happened before the Wizards bolstered their roster in last night's draft.

Stackhouse had sought an extension but held the option to void the final two years of his contract by July 1. Now he seemingly will be a fixture in Washington, as the team committed to keeping him through the 2006-2007 season.

"I'm ecstatic about it," said Stackhouse, who figures to earn about $34 million over the new terms of his deal. "They stepped up in a situation where there really was no market [in free agency]. They wanted me to be the forefront and focus of the team. This is a great situation to be in, a situation I've really never felt in my career."

While Stackhouse (a team-high 21.5 points last season) enjoyed his new security, team owner Abe Pollin, who along with General Manager Wes Unseld and new coach Eddie Jordan signed off on Stackhouse's extension, got the news he had been waiting on for weeks.

A source close to the situation said the Bucks will release Grunfeld from the final year of his contract in the coming days, allowing him to interview with Washington.