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Via Brian Schmitz of the Orlando Sentinel:
The Orlando Magic will put their title hopes into the hands of coach Stan Van Gundy and General Manager Otis Smith for a while longer.
The Sentinel has learned that the Magic will announce Wednesday that Van Gundy and Smith have had their contracts extended through the 2012-13 season.
While technically the general manager, Smith has a new title: president of basketball operations.
The club also has promoted Chief Operating Officer Alex Martins to team president and his contract runs through 2012-13.
Bob Vander Weide, who held the title of club president and is the son-in-law of owner Rich DeVos, is now the chief executive officer and vice chairman of the franchise.
Well-deserved extensions and promotions.