1:04pm: The Mavericks have officially announced Carlisle's extension via a team release. Owner Mark Cuban's statement suggests the contract is for four years.
"We are excited that Rick will be back with the Mavericks for at least the next four years," Cuban said. "He is a proven winner, a great teacher and a coach that will help the Mavericks improve as a team and as an organization."
12:32pm: The Mavericks have agreed to a contract extension with coach Rick Carlisle and will announce the deal later today, according to Brad Townsend of the Dallas Morning News. Tim MacMahon of ESPN Dallas confirms (via Twitter) that the two sides have reached an agreement.
Carlisle, who coached the Mavericks to a championship last year, was in the last year of his contract with Dallas. He owns a 198-114 record in his four seasons with the Mavs, including three straight years of 50+ wins prior to this season's 36-30 mark.
The agreement with Carlisle is the first of many contract decisions this summer for the Mavs, who could have as many as nine players hitting free agency.