Working in close concert the past two years, GM Rob Hennigan and head coach Jacque Vaughn have assembled and developed a foundation of promising players that should allow the Orlando Magic to make major strides in the years to come.

On Friday the Magic made moves that will ensure that Hennigan and Vaughn are around to see Orlando’s massive rebuild through to completion.

Magic CEO Alex Martins announced that the fourth-year team options on the contracts for Hennigan and Vaughn have been exercised, meaning their deals will be extended through the 2015-16 season. Hennigan and Vaughn have been with the Magic the past two seasons and are under contract now for at least two more seasons – much to the delight of Martins.

``Rob and Jacque have worked extremely hard in establishing a culture which embodies teamwork, hard work, hunger for success and humility,’’ Martins said. ``With their strategic direction and leadership we feel we are headed in the right direction which will allow us to achieve our goals of contending in a long term sustainable fashion.’’

Hennigan and Vaughn joined the Magic 37 days apart in the summer of 2012 and only one player – veteran point guard Jameer Nelson – is still with the franchise following a major makeover of personnel. But in that time, the Magic have been able to stockpile a gaggle of young talent, while also establishing plenty of financial flexibility for the future.

Hennigan has drafted three players – Victor Oladipo, Kyle O’Quinn and Andrew Nicholson – who have made major contributions the past two seasons. Oladipo was the No. 2 pick in last June’s NBA Draft and he delivered on his massive potential with a solid rookie season. And O’Quinn looks to be one of the steals of the 2012 draft, going from the 49th overall selection to a full-time starter who ranked in the NBA’s top 20 in blocked shots this past season.

Hennigan also wisely passed on center Andrew Bynum – who has played just 26 games the past two seasons with three teams because of knee injuries – when forced to trade Dwight Howard in August of 2012. Hennigan instead flipped Howard and several burdensome contracts for starters Arron Afflalo, Nikola Vucevic, Maurice Harkless and a 2014 first-round draft pick. That pick will be in the lottery and will give the Magic two top-14 selections in the upcoming June draft.

Hennigan also dealt J.J. Redick’s expiring contract in 2013 for promising forward Tobias Harris and shooting guard Doron Lamb. Harris, who quickly established himself as a core piece for the Magic, has averaged 17.3 points and 14.6 points for the Magic over the past two seasons.