The Houston Rockets have agreed to a four-year contract extension with Daryl Morey, owner Leslie Alexander said on Thursday.

Morey had one season left on his contract.

"The reason I extended Daryl, I thought he's done a terrific job in his tenure with the Rockets," Alexander said.

Morey has rebuilt the Rockets with wise trades and signings, most notably acquiring James Harden in a deal last offseason.

The Rockets currently rank seventh in the Western Conference with a 33-29 record.