Contract Extension Could Be In The Works For Tom Thibodeau

Tom Thibodeau, Knicks, NBA Rumors
Dec 18, 2023; Los Angeles, California, USA; New York Knicks coach Tom Thibodeau at a press conference at the Arena. Mandatory Credit: Kirby Lee-USA TODAY Sports

Since being named head coach of the New York Knicks during the 2020 NBA offseason, Tom Thibodeau has overseen a massive change for the team. Before he was hired, New York was cycling through coaches at an alarming rate.

Mike D’Antonio, who was the head coach from 2008-2012, was the last person the Knicks had who made it into a third season as coach before Thibodeau. Before D’Antoni, you have to go all the way back to Jeff Van Gundy before the turn of the century.

To say Thibodeau’s demeanor and no-nonsense way of coaching was needed would be an understatement. He has helped bring the franchise back to respectability, echoing the style of play that fans endeared and opponents in the NBA feared during the 90s.

NBA NEWS & SCORES: Tom Thibodeau & New York Knicks Updates

Under Thibodeau, the Knicks are playing a physical brand of basketball that is being spearheaded by their defense. When you go into Madison Square Garden, you better bring your hard hat as you are going to get bludgeoned for 48 minutes.

While not always aesthetically pleasing on the court, the Knicks get the job done. They are currently 41-28 and sitting in fifth place in the Eastern Conference, a half-game behind the Orlando Magic for fourth place and 3.5 games behind the Milwaukee Bucks for second.

New York is on their way to making the NBA Playoffs for the third time in four seasons under Thibodeau, as this is the most successful stretch the franchise has seen in over a decade. Because of that success, we could be seeing Thibodeau on the sidelines for many more years to come.

According to Fred Katz of The Athletic, extension talks between Thibodeau and the Knicks could occur this offseason. He currently makes somewhere around $7 million annually, but that number could increase a ton this offseason.

NBA NEWS & SCORES: Tom Thibodeau & New York Knicks Updates

“His current deal runs through the 2024-25 season, but league sources say he hopes to secure his future with the Knicks when both sides plan to revisit the topic this summer. At this rate, the Knicks might wind up hoping they’d decided to get something done with Thibodeau before the recent explosion of coaching salaries,” wrote Katz.

The salaries of head coaches have gotten very expensive recently. Record-breaking deals were signed by Monty Williams, Gregg Popovich, Erik Spoelstra, Doc Rivers and Steve Kerr all in the last year. 

All of those deals pay more than the $7 million Thibodeau reportedly makes, which means ownership could have to open up their checkbook on an extension. It would be worth it, as Thibodeau has shown more of an ability and willingness to adapt game plans this season to the ever-changing landscape of the NBA.

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