Updated

Vivek Ranadive has made a fortune in the software industry by betting on the right people.

The new owner of the Sacramento Kings is now betting big on DeMarcus Cousins.

The Kings signed Cousins to a four-year maximum contract extension worth a reported $62 million Monday, saying the 23-year-old center is the foundation the franchise will build on to lead a struggling team into a new era.

Sacramento hasn't had a winning season since 2006, but the new Kings management is comfortable investing in a player considered one of the NBA's best young big men but who also has drawn multiple suspensions from both the team and the league for his behavior.