Knicks to Extend Tom Thibodeau to Eight-Figure Deal – Reports
New York Knicks coach Tom Thibodeau is here to stay.
This summer, The Athletic’s Shams Charania reports, the divisive coach and the Knicks will talk about a new deal.
Next season will mark the end of his contract, Charania revealed on “Run It Back” on May 15. Both parties will talk about a new contract in the offseason because you won’t let a coach like Tom Thibodeau enter a lame duck season. Long-term retention of Tom Thibodeau is something the Knicks fervently desire.
Thibodeau has been the best coach the Knicks have had in more than twenty years, despite his unpopularity among NBA players throughout the league. Over his first four seasons with the Knicks, he has amassed a 175-143 record and guided them to three postseason spots and two Eastern Conference semifinal trips. Along the road, he won his second NBA Coach of the Year award. Fifth-most wins by a Knick coach in team history are his 175 victories.
One victory separated the Knicks from their first trip to the Eastern Conference Finals since 2000 following Tuesday’s 121-91 victory over the Indiana Pacers in Game 5.
“Eight Figure Deal”
Given his successful track record and the recent coaching contracts, Charania expected Thibodeau to sign a rich new contract.
“We see where these coaching contracts are going; he’s at about $7 million per season right now,” Charania said. It would therefore not come as a surprise to anyone if his next deal is in the eight figures.
The Miami Heat, a conference foe of the Knicks, gave Erik Spoelstra, their two-time champion and longstanding head coach, an astounding eight-year agreement valued at $120 million. Coach Steve Kerr of the Golden State Warriors signed a two-year, $35 million agreement.
Mike Budenholzer, a two-time NBA Coach of the Year and past champion coach, was signed by the Phoenix Suns to a five-year deal valued about $50 million. Monty Williams signed a six-year, $78.5 million contract with the Detroit Pistons, the team that finished last.
