A new report reveals that the New York Knicks and head coach Tom Thibodeau are expected to talk about a new contract in the summer, but chances are it is going to be very expensive for owner James Dolan.
After a disappointing showing in 2021-2022, Tom Thibodeau has proven that team president Leon Rose made the right choice when he picked him to be the team’s new head coach four seasons ago. With 13 games left to go this season, the New York Knicks have an outside chance of winning 50 games for the first time since the 1999-2000 season.
- Tom Thibodeau coaching career record: 518-385
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Thibodeau is set to take the team to the playoffs for the third time in four campaigns and if they can get fully healthy, this group is a serious contender to reach the NBA Finals. With a record almost 30 games over .500 as the team’s head coach, it only makes sense for the organization to start pondering an extension for the 66-year-old.
On Friday, The Athletic NBA insider Sam Amick reported that “league sources say [Thibodeau] hopes to secure his future with the Knicks when both sides plan to revisit the topic this summer.” With only a year left on the five-year contract he signed in 2020, discussions need to commence. However, how much will it take to keep Thibodeau happy and in New York?
New York Knicks may have to pay Tom Thibodeau around $13 million per year in new contract
Tom Thibodeau’s contract is coming due at just the right time. Over the last year, several NBA teams have handed out some massive contracts to coaches of different success levels.
The Detroit Pistons gave Monty Williams a six-year, $78.5 million deal ($13 million annually). San Antonio Spurs legend Gregg Popovich has a new pact worth $80 million ($16 million annually). The Miami Heat rewarded Erik Spoelstra with an eight-year, $100 million contract ($12 million AAV), and Steve Kerr netted a two-year, $35 million ($17.5 million AAV) contract from the Golden State Warriors.
- Tom Thibodeau salary: $7 million per year
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Obviously, Thibodeau has not had the success of Kerr, Popovich, or Spoelstra during his career, but they have nonetheless set a higher contract level for top coaches, in terms of years and total payout. The Knicks could likely give their head coach a new four-year deal, and a yearly rate of $13 million seems about right considering the going rate for experienced and successful head coaches in the league currently.
- Tom Thibodeau contract projection: 4 years, $52 million