Clippers sign Rivers to 5-year extension

In his first significant move since taking over as the Los Angeles Clippers' new owner this month, Steve Ballmer has persuaded head coach Doc Rivers to remain with the team for another five years.

Rivers has agreed to a contract that will keep him in LA through to the end of the National Basketball Association's 2018-19 season, though specific terms of the deal were not disclosed by the Clippers on Wednesday.

"This is an important day for this organization," Ballmer, the former head of Microsoft who paid a NBA-record $2 billion for the Clippers, said in a statement.