Edmonton, AB (My Sportsbook) - The Edmonton Oilers extended the contract of general manager Kevin Lowe for four years, keeping him with the team through the 2011-12 season.

Lowe, who played for the Oilers and was part of all of the team's five Stanley Cup championships during his 15 seasons in Edmonton, became the general manager on June 9, 2000. He most recently helped the Oilers to the Stanley Cup Finals in 2006 before losing to Carolina. However, last season the Oilers managed just 71 points and finished last in the Northwest Division.

"This franchise is measured upon the quality of the key management people and the quality of our hockey players. Therefore this is a very important announcement for our franchise," said Cal Nichols, Chairman of the Edmonton Investors Group. "The Edmonton Investors Group also acknowledges his stature as a pillar in the community, which brings even more value to this team, this city, and the greater Edmonton community. Edmonton should feel fortunate to have him as our general manager, and we are thrilled to be able to make this announcement today."

After retiring from the game following the 1997-98 season, Lowe joined the Oilers staff as an assistant coach under Ron Low, and in 1999-2000 he became the team's seventh head coach.

"I feel very fortunate to be able to work in the environment Kevin has created here," Oilers current head coach Craig MacTavish said. "There has never been any question that he's willing to do anything at any time to help this hockey club, and that enables the coaches, players, scouts, and all of hockey operations to concentrate on winning hockey games."