After the Portland Trail Blazers closed their season Wednesday with a 125-121 loss to the Golden State Warriors in Game 5 of the Western Conference semifinals, the team's first item of business is to retain coach Terry Stotts, sources say.

The Trail Blazers hold a team option for Stotts' services for next season, but sources say management and Stotts' representatives soon will explore a contract extension beyond 2016-17.

During his four seasons at the helm in Portland, Stotts has compiled a record of 182-146, and the team has qualified for the playoffs each of the past three seasons.

This season, in what was expected to be a rebuilding campaign, the Trail Blazers compiled a record of 44-38 and earned the No. 5 seed in the Western Conference. Stotts finished a close second to Warriors coach Steve Kerr in the NBA's coach of the year vote.