The Knicks have officially exercised their 2014/15 option on Mike Woodson, the team announced today (Twitter link). The move ensures that Woodson will remain under contract for the next two years, and will no longer be on an expiring deal this season.
Woodson, who replaced Mike D'Antoni as the Knicks' head coach in 2011/12, has compiled a 72-34 (.679) record with the team so far, though New York hasn't made it past the second round of the playoffs in either of his two seasons.
There had been some speculation that Woodson could be on the hot seat for the coming year, given his contract status, the high expectations for the Knicks, and the fact that Steve Mills recently replaced Glen Grunwald as the club's general manager. Grunwald and Woodson have a long history, dating back to their days as college teammates at Indiana.