Lakers Coach Phil Jackson agreed to a two-year contract extension worth about $24 million, lending a sense of stability to a franchise that has teetered in many ways since May.

Jackson informed owner Jerry Buss of his decision in a Wednesday afternoon meeting that was termed productive and positive.

As if to celebrate, the Lakers went out and defeated the Denver Nuggets, 127-99, after trailing by 17 points Thursday at Staples Center. Kobe Bryant had 24 points and Andrew Bynum had 12 points and 13 rebounds, but the main matter was Jackson’s decision.

The recent Hall of Fame inductee received a raise from the three-year, $30-million contract he signed in June 2005, which was the richest per-annum coaching deal in U.S. pro sports history.