Knicks Predicted to Sign Tom Thibodeau to Lucrative Contract Extension

Getty Tom Thibodeau coaching.

Outside of their pending offseason moves, the New York Knicks could also look to extend head coach Tom Thibodeau. Thibodeau has found success in New York, taking the team to the second round of the NBA playoffs this past season despite the many injuries they dealt with.

Thibodeau will enter the final season of a five-year deal he signed in 2020. Fred Katz of The Athletic polled eight front-office officials who don’t work for the Knicks, asking what they would view as a fair extension for him.

“The Athletic recently polled eight front office officials who do not work for the Knicks, asking them what they would deem a fair extension for Thibodeau, who has helped the squad to the playoffs during three of his first four seasons in New York and has won a postseason series during each of the past two.

“All eight respondents answered with eight-figure salaries, ranging from $10 million a year to $13.3 million a year,” Katz wrote on June 6. “No one said he would not extend Thibodeau, whose current salary is around $7 million a year, according to The Athletic’s Shams Charania.”

‘The Sweet Spot for Thibodeau was $12 million a year’

According to Katz, “the sweet spot for Thibodeau was $12 million a year.” That would make him one of the highest-paid coaches in the NBA.

“The sweet spot for Thibodeau was $12 million a year. Three respondents submitted $48 million over four years,” Katz wrote. “Another said the same, though added he would place a team option on the final season. One person said $36 million over three years, straight up. Another said three for $33 million with bonuses to take it up to $12 million annually.”

Other coaches around the league have seen an increase in salaries, too, making it likely that the New York Knicks will have to be willing to spend on him if they want to keep the 66-year-old around.

Steve Kerr of the Golden State Warriors added two more years to his deal at $35 million, a record-setting annual value in a coaching contract at $17.5 million. The Phoenix Suns signed Mike Budenholzer to a five-year, $50 million contract. Others have signed lucrative deals too, including Ty Lue, who extended for $70 million over five years with the Los Angeles Clippers.

Coaches are expensive like never before, and keeping Thibodeau, who Knicks players seem to love, looks to be the best outcome for both sides.

Knicks’ Josh Hart Advocated for Thibodeau

Josh Hart, known for being the perfect Thibodeau player due to his defensive energy and hustle, advocated for him to sign an extension. Players have to play a certain way under Thibodeau as he holds players accountable and expects the most out of them every night.

According to Kristian Winfield of NY Daily News, Hart credited Thibodeau for the foundation he’s built.

“So I think you’re seeing the foundation that he’s built — but we know getting to be a championship team is not flipping a switch and one season you just get there,” Hart said. “We know you’ve got to continue to build, and that’s something that he’s done, something he built the foundation for, and it gives this city and this franchise hope moving forward.”

With players publically backing him, it makes it an even easier decision for the New York Knicks.