The Post has an article about it, as do most other major news sources, citing the team's 24-9 record and 14-1 record at home as part of the reason.
I couldn't be happier about this, I think Lonergan is a really good coach, shown by this year especially. I hope he stays here for a long time (and for a very cynical viewpoint, the long extension may mean teams would need to pay more to hire him away. He's a local guy, from Bowie, and has said GW is his dream job, but I suppose you never know.)
That said, the GWSports article about the extension has some great quotes from Lonergan, like this one:
"When I was hired at GW three years ago it fulfilled a career-long dream to coach at the highest level of college basketball," said Coach Lonergan. "Having had the opportunity to return to my roots and once again coach in the area where I grew up, it's now my truest hope that this will be where I retire. I'm very grateful to be able to coach this proud program, and I want to thank President Knapp, Patrick Nero, my family, friends, players, assistants and staff who have helped to make this possible."Pretty cool!