PHOENIX -- Phoenix Suns owner Robert Sarver has extended the contract of general manager Ryan McDonough through the 2019-20 season and hired longtime NBA player James Jones as vice president of basketball operations.

Sarver says Jones will report directly to McDonough in the new position.

McDonough is entering his fifth season as general manager and is the architect of an exceedingly young roster built with draft picks.

Sarver says he's not a patient man but has decided he must show patience for this young core to develop and eventually compete with the top teams in the Western Conference.

Jones played the past 14 seasons in the NBA -- two with the Suns -- and was part of three championship teams -- two in Miami and one in Cleveland.

UPDATE: Cavaliers owner Dan Gilbert released the following statement about Jones' new career path:

Congratulations to James Jones on what has been one of the most successful NBA careers a player can have. Being widely known as one of the best teammates ever is possibly the greatest tribute a player could receive and he has earned that reputation with hard work, incredible consistency, dependability, strong character and trust. He is a champion and role model on the court, in the locker room, in the community and as a mentor and friend to many across the NBA. “Champ” is one of those special people that helps create success wherever they are, in many different ways, with character and brains that are on un-paralleled levels. We wish “Champ,” his wife Destiny and their children, J.D., Jadynn and Jodie, the very best as they move into the next phase of their basketball journey and life in Phoenix. We also thank Champ and Destiny greatly for the positive impact they made as Cavaliers and in the Cleveland community as well.

WATCH: WKYC's Dave DeNatale discusses Jones' departure to Phoenix as part of 'Dino's Dynamite Drop-ins' on Facebook Live: