The Miami Heat and coach Erik Spoelstra agreed to a contract extension for eight years and more than $120 million, ESPN reported Tuesday night.
It would represent the largest overall deal for a head coach not only in the NBA, but in North American sports, per the report.
In average annual value, Spoelstra’s $15 million per year would slot in behind San Antonio Spurs coach Gregg Popovich, who earns $19 million on his current contract but for a shorter length of time.
Spoelstra has guided the Heat to two NBA titles (2012, 2013) and four other NBA Finals appearances (2011, 2014, 2020, 2023). Miami lost in five games to the Denver Nuggets last June after toppling the Milwaukee Bucks, the New York Knicks and the Boston Celtics as the No. 8 seed in the Eastern Conference.
Spoelstra, 53, ranks 19th all-time with 725 NBA coaching victories. He is 725-506 over 15-plus seasons since taking over the Heat in 2008-09.
–Field Level Media