Stone gets multiyear contract extension
Rockets general manager Rafael Stone, who oversaw the franchise’s overhaul, signed a contract extension during the 2023-24 season, owner Tilman Fertitta said Tuesday.
The Rockets agreed on multiyear extensions for Stone and assistant general manager Eli Witus in January.
“It became clear that the Rockets had executed our plan to draft and develop young potential cornerstones for the franchise, stabilized the team with veterans that translated to winning games and found our coach for the present and future,” Fertitta said. “We wanted to show them as well as the public we’re excited with the direction the Rockets were going. We said this was phase two.
“A lot of teams don’t have a real plan. The Rockets had a real plan. We drafted well in the three years. Just look at the six young guys we have. All have he potential to be All-Stars. We said year four was going to be lift-off. That’s what it was. Any other year, we would have been in the play-in. But the West is extremely strong. Just because we won 41 games this year, we would have to be better next year to make the playoffs.”
Stone, who became general manager in November 2020, led the Rockets through a transformation by rebuilding their stockpile of draft picks and cap space, beginning with the trade of James Harden to the Brooklyn Nets and through last summer’s free-agent additions of Fred VanVleet and Dillon Brooks.
“I’m very happy to be here,” Stone said of the extension. “We’ve been in bed together for a while now. I’m very thankful to Tillman and the Fertitta family. They’ve been great people to work for and with. Thankful to Ime (Udoka, the Rockets’ coach) and his staff. Likewise, it’s been a really, really enjoyable year.
“I do think we have the chance to build something very special here. That is very much my goal. I want to build the absolutely best team we possibly can, something built for sustainable success. And I think we have a very good chance of that. I am excited.”
The Rockets went through seasons with the worst combined record in the NBA, to going 41-41 in 2023-24. In the four seasons since Stone succeeded Daryl Morey, the Rockets entirely turned over the roster with only forward Jae’Sean Tate remaining from Stone’s first season.
The moves to acquire extra draft picks in deals to move Harden, Russell Westbrook and P.J. Tucker, and to improve the pick acquired for Tucker with a trade of Eric Gordon, along with the Rockets’ poor record over three seasons, netted
Jalen Green, Alperen Şengün, Jabari Smith Jr., Tari Eason, Amen Thompson and Cam Whitmore.
The Rockets also own the Nets’ pick in the June draft, the ninth selection going into the May 12 draft lottery.
The Rockets can have as many as 10 players under contract going into the offseason, depending on decisions with contract options and non-guaranteed seasons.
Stone had become Rockets general counsel in 2006, moving to the basketball side and working closely with Morey on many trades in the years before Morey left the franchise, eventually becoming 76ers president of basketball operations.