The 72-year-old, former owner of the NBA side Phoenix Suns, had first taken over in 2005 when the United States was still recovering from the shock of failing to win the men's Olympic gold medal for the first time since 1988.

They had been forced to settle for the bronze medal at Athens 2004 after being knocked out in the semi-final by Argentina, who went onto win the gold medal.

But since Colangelo has been at the helm the US have been practically unbeatable.

They have won the last two Olympic gold medals, at Beijing in 2008 and London 2012, and the World Championships in Turkey in 2010, losing just once in 63 matches.


The women, meanwhile, won their fifth consecutive Olympic gold medal at London 2012. 

"I'm excited to again serve USA Basketball as chairman for the next four years," said Colangelo after being re-elected.

Besides Rio 2016, the next four years will include the 2014 men's FIBA Basketball World Cup in Spain and women's World Cup in Turkey

"I'm proud of the many successes USA Basketball's coaches and players achieved over the past four years and I'm looking forward to helping keep that momentum going," said Colangelo.

"We were not only successful in competitions, but in the manner in which everyone associated with USA Basketball represented our country on and away from the court.

"We focused on showing the utmost respect for the competitions and for our international opponents."

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September 2012: Colangelo declares intention to remain at helm of USA Basketballl until Rio 2016