Blame the Detroit Pistons — or maybe credit them. Head coaches around the NBA are making more money than ever, and Tom Thibodeau, the leader of the New York Knicks, could be next. This trend started in Michigan.
The Rise of Coaching Salaries
Only a year ago, Pistons owner Tom Gores yearned for Monty Williams. Despite Williams’ initial disinterest after parting ways with the Phoenix Suns, Gores was persistent. He increased his offer, and soon, Williams was on a private plane, sealing a deal worth $73 million over six years, the largest contract ever for an NBA coach at the time.
This set a new precedent. Following Williams’ agreement, the San Antonio Spurs extended Gregg Popovich’s contract for $80 million over five years. The Golden State Warriors’ Steve Kerr added two more years to his deal at $35 million, setting a record for average annual value in a coaching contract at $17.5 million per year.
Erik Spoelstra’s new deal with the Miami Heat, worth $120 million over eight years, became the most lucrative guaranteed contract for a coach.
Tom Thibodeau’s Turn for a Big Payday
Soon it could be Tom Thibodeau’s turn. Entering the final season of his five-year deal inked in 2020, the Knicks coach has led the team to the playoffs in three of his four seasons and won a postseason series in the last two years. Following a successful 2023-24 season with 50 wins and a near miss at the Eastern Conference finals, an extension is more likely than not.
According to league sources, it will take a significant sum to retain Tom Thibodeau. The Athletic polled eight front office officials who do not work for the Knicks. All eight respondents suggested eight-figure salaries, ranging from $10 million to $13.3 million annually. “He can’t be less than $10 million a year,” said one executive.
Tom Thibodeau’s Impact and the New York Knicks’ Success
Tom Thibodeau has gone 175-143 in his first four seasons with the Knicks, a .550 winning percentage. This ranks sixth in franchise history among coaches who have stayed for more than one season. Under his leadership, the team achieved its best run since the 1990s, winning postseason series against the Cleveland Cavaliers in 2023 and the Philadelphia 76ers in 2024.
The Knicks were struggling with six consecutive sub-.400 seasons before hiring Tom Thibodeau in 2020. His arrival marked a turning point, with team president Leon Rose’s decision proving fruitful. Despite some internal doubts and a challenging start to the 2022-23 season, Thibodeau’s adjustments led to a successful campaign, finishing 47-35 and advancing past the first round of the playoffs.
The Culture Shift Under Tom Thibodeau
The Knicks’ success isn’t just about wins; it’s also about culture. Tom Thibodeau’s intense, detail-oriented approach has instilled a hard-nosed ethos within the team. Players like Isaiah Hartenstein and Donte DiVincenzo have praised Thibodeau for simplifying the game and getting the best out of each player.
“He’s a great head coach and he’s done an amazing job this year not only dealing with injuries but also getting the best out of every single player on our team,” said DiVincenzo.
Jalen Brunson, who signed with the Knicks partly because of his desire to play for Thibodeau, had his first All-Star and All-NBA season under his leadership. Julius Randle, another player who has thrived under Thibodeau, has become a three-time All-Star and two-time All-NBA performer.
Negotiations and Future Prospects
The desire for continuity is mutual. The Knicks want to retain Tom Thibodeau, and he has expressed his desire to stay. “The Knicks have been great to me. This is where I want to be,” said Thibodeau.
Now, it’s just about the money. And for NBA coaches these days, the money is substantial.
With the market set by Williams, Popovich, Kerr, Spoelstra, and others, Thibodeau’s next contract will likely reflect his achievements and the high value the Knicks place on his leadership.
