Today the Boston Celtics announced they have promoted Danny Ainge to President of Basketball Operations. He formerly held the joint title of Executive Director of Basketball Operations and General Manager.

The organization has also extended Ainge’s contract. Update: Jeff Goodman of FOXSports.com and WEEI.com has reported that the extension is through the 2011-2012 season. His previous contract would have expired after this season.

Last season Ainge was honored with the 2007-08 Executive of the Year award for transforming the Celtics from worst to first. Tonight he will receive his third world championship ring with the Celtics after winning two titles as a player in 1984 and 1986.

“Danny has been a key part of building our World Championship team and basketball program,” said Boston Celtics Managing Partner and Co-owner Stephen Pagliuca. “He represents all that is the best of Celtics Pride and we applaud his success.”