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Krzyzewski to return as Olympic coach

Mike Krzyzewski will stay on as coach of the U.S. men's Olympic basketball team through the 2016 Games.

Krzyzewski announced his intentions at a Thursday news conference at Duke, where he is head coach of the Blue Devils.

"It's the ultimate honor to coach your country's team," Krzyzewski said.

Under Krzyzewski's guidance, the U.S. Olympic team has won the past two gold medals and the 2010 World Basketball Championships.

Krzyzewski had indicated that he would step away from international coaching after the 2012 Games in London, but USA Basketball chairman Jerry Colangelo held out on pressing Coach K for a decision until after the college season ended.

The next big tournament for the U.S. team is the World Cup of Basketball, formerly the World Basketball Championships, in 2014 in Spain. Winning that tournament would qualify the Americans for the 2016 Summer Olympics in Rio de Janeiro.

The first minicap for Team USA will be held this summer in Las Vegas. Staff changes are expected, though Syracuse coach Jim Boeheim said he's likely to return.

Krzyzewski has led Team USA to a 62-1 record since 2005.