Chuck Pagano to stay with Colts under 4-year extension

— -- Coach Chuck Pagano has been given a four-year contract extension to stay with the Indianapolis Colts through 2020, the team said Monday.

"I'm happy to announce that we are moving forward with Chuck as our coach," owner Jim Irsay said in a news conference Monday. "It was something I was hopeful would be the case. We gave it careful consideration. Really, it was something, you know my focus was always on winning and going forward in the best way we can to win and yes continuity plays a role. It is important.

"I'm really thrilled," Irsay said. "Chuck has earned the opportunity. It worked out really well."

No financial terms were available.

"I've had a lot of great days in my life, but none better today," Pagano said. "I'm grateful and thankful to Mr. Irsay and his family. Words can't describe how I feel right now. I owe it to Jim for believing in me."

The Colts are working to extend the contract of general manager Ryan Grigson as well, sources told ESPN's Adam Caplan. Grigson and Pagano had a long meeting Monday.

The 55-year-old Pagano and Irsay spent most of Monday afternoon meeting inside the team complex and after several hours, team spokesman Avis Roper told reporters earlier no announcement would come until at least Tuesday.

"I don't see any reason for change. I think Chuck is the guy for this team to lead us to a Super Bowl,'' linebacker D'Qwell Jackson said earlier Monday. "You look around the league, all the head coaches that have been around for years, there have been off years. If an off year is 8-8, I know some teams would give their right arm to go 8-8. I don't see a need for change.''

After Sunday's 30-24 victory over Tennessee, the usually chatty Irsay quickly left the locker room without talking to reporters, and he had no updates on his Twitter feed for most of Monday.

In four seasons with Indy, Pagano is 41-23 with three playoff appearances, three playoff wins, two division titles and last year's appearance in the AFC championship game.

But plagued by injuries, including to star quarterback Andrew Luck, Indianapolis went 8-8 this season as Houston won the AFC South.

Information from The Associated Press was used in this report.