For months now, we have been discussing Tom Thibodeau and his upcoming extension, and it appears that the deal will soon be announced.
In the most recent issue of his newsletter, which was released on July 21, NBA insider Marc Stein claims that the announcement will take place “in the near future.”
“In the desert, there was a great expectation that Knicks coach Tom Thibodeau would soon announce a contract extension.
“After leading the injury-plagued Knicks to just their second 50-win season of the twenty-first century, Thibodeau would be entering the final season of his original five-year contract without an extension but has been regarded for weeks as a lock to receive a new deal that pays at least $10 million annually.”
To be fair, Stein raised valid concerns about the reason behind the postponement of the official announcement of the extension—which, in my opinion, has been set in stone for a few months now.
About to begin his final season with the Knicks, Thibs inked a contract to become the team’s 31st head coach when he first moved to Manhattan in July 2020.
President Leon Rose announced the hiring by saying, “Tom Thibodeau is a proven winner who gets the most out of the players and teams that he has coached.” “He will infuse our organization with leadership, accountability, and a diligent work ethic. We are thrilled to have him back in New York and are looking forward to working with him and his team to create a prosperous future.
And Thibs has done precisely that. Thibodeau has played in 318 regular-season games and has a solid 175-143 (.550) record. In two of the three seasons he has made it to the playoffs, he has moved past the first round. He is 14–15 overall.
Only six Knicks coaches have coached in more than 300 games while at MSG, including Thibodeau.
At the beginning of June, Stein had previously claimed that the coach would almost certainly receive a contract worth “at least $10 million” year. That’s in line with the NBA’s current coaching staff, where a few men are sporting fairly bulky backpacks.
In a report released on June 1st by Rodney Reeves of Front Office Sports, Steve Kerr is the highest paid NBA coach, taking home $17.5 million annually. Three other coaches make more than $10 million a year, with Gregg Popovich ($16 AAV) and Erik Spoelstra ($15 AAV) coming in after him.
Though Thibs lacks the credentials of the coaches included on FOS’ report making at least $9 million—all of whom have at least one championship—it’s reasonable to argue that he is among the best guys in coaching both historically and currently.
As of right now, Thibodeau’s contract pays him $8 million a season, which is tied with the salaries of JJ Redick (yep), Jason Kidd, Quinn Snyder, and Michael Malone and slightly less than Mike Brown’s $8.5 million annual salary.
Finding a super-talented wing player (and Villanova star!) like Mikal Bridges, celebrating the hometown discount extension of the franchise’s face, or hanging onto the most unquoteable man in history will always be more thrilling than adding a head coach.
…but in the grand scheme of bringing the Larry O’B back home, the Knicks FO’s decision to retain Thibodeau around for this core’s future may prove to be the most significant one (beginning with his hiring in the first place).
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