Portland Trail Blazers president of basketball operations Neil Olshey has agreed to an extension that will keep him under contract through 2021.

The Blazers plan to exercise the two option years on Olshey's current contract -- guaranteeing his deal for the 2018-19 and 2019-20 seasons -- and the sides negotiated an additional year extension through the 2020-21 season.

The Atlanta Hawks were denied permission to speak to Olshey in the spring about the franchise's vacant GM job, league sources said.

The Blazers have reached the playoffs in four consecutive seasons, including two trips to the Western Conference semifinals. Olshey has been twice voted in the top three for the NBA's Executive of the Year.

Portland hired Olshey away from the LA Clippers in 2012, and he is responsible for drafting one of the NBA's most dynamic backcourts, including All-Star Damian Lillard and CJ McCollum. Olshey's trade for center Jusuf Nurkic in February has helped to reshape the Blazers as a threat to advance in the Western Conference playoffs.

Olshey was the GM of the Clippers, where his accomplishments included two trips to the playoffs and the trade that landed All-Star guard Chris Paul from New Orleans.