Babby's contract was set to expire after this season, but the Suns and owner Robert Sarver decided to lock him up before it got to that point.
Arizona Republic beat writer Paul Coro broke the news on Twitter.
#Suns President of Basketball Operations Lon Babby agreed to a two-year extension to remain at the team's helm. More to come at azcentral.— Paul Coro (@paulcoro) April 2, 2013
Now the team has sent out a press release confirming the extension including an official statement from Sarver:
"Lon has led our front office during this important transition period for the organization and he has my full support as we continue to rebuild," said Suns Managing Partner Robert Sarver.
The release goes on to mention how Babby has placed on emphasis on the draft by citing the selections of Markieff Morris and Kendall Marshall as well as the numerous draft picks the Suns have acquired, and also mentions a focus on getting younger by listing the acquisitions of Goran Dragic, Marcin Gortat, Wesley Johnson, P.J. Tucker, Marcus Morris and Michael Beasley.
Babby himself put forth a statement in the release:
"I greatly appreciate the faith that Robert Sarver and the entire Suns organization have demonstrated with this new contract," said Babby. "We have begun the heavy lifting needed to rebuild our team. While the transition is often painful, I am entirely confident that we are taking the necessary steps to regain elite NBA status. I fully embrace the opportunity to continue on that path."
It appears from both quotes that Sarver is giving Babby the chance to finish what he started. There is some merit to this approach, as the Suns might as well let Babby attempt to get the team out of the hole he (and his predecessors) dug. The Suns chose to go with a (somewhat) full rebuild, and most times that involves getting worse before getting better. Well, the Suns got worse. Now it's time for the getting better part.
However, the examples of Babby's moves given above do not inspire confidence. Of those, I consider the acquisitions of Dragic, Gortat and Tucker good moves. The rest are at best neutral moves and at worst big mistakes. Based on the Twitter reaction from Suns fans, this is not a popular decision.
But none of that matters now. The Suns are moving forward with Babby at the helm and his version of the rebuild will continue.
Next on the agenda are the decisions on the futures of general manager Lance Blanks and interim head coach Lindsey Hunter. Dave has already written on this topic in depth, so check it out (just ignore the parts about Babby not being extended).