NBA insider reveals likely cost of Tom Thibodeau contract extension for New York Knicks

The New York Knicks were eliminated in the Eastern Conference semifinals by the Indiana Pacers, but head coach Tom Thibodeau has reportedly shown the franchise enough that he is all but assured of a contract extension this year.

Thibodeau, 66, was hired by New York before the 2020-21 NBA season. He took over a team that had not won more than 35 games in a season since the 2013-14 season and had not reached the playoffs in seven years. In his first season at the helm, New York finished 41-31 and made the playoffs.

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After a slump in the second year (37-45), the Knicks posted a 47-35 record last year and reached the Eastern Conference semifinals. Last season, New York returned to the ECSF and reached 50 wins in the regular season for the first time since 2013.

The Knicks were eliminated by Indiana, but that was only after the team's rotation was rocked by season-ending injuries, with both OG Anunoby and Jalen Brunson playing in the elimination game while injured. New York's season ended early, but the organization has seen enough to make its decision on the head coach.

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According to NBA insider Marc Stein, it is “virtually certain” that Thibodeau will receive a contract extension at market value this summer.

“League sources say it's safe to assume Knicks coach Tom Thibodeau will almost certainly receive a 'market-rate' contract extension this offseason, representing an annual salary of at least $10 million, after New York moved to the brink of the Eastern Conference finals with one of the league's longest injury lists in an injury-plagued postseason.”

Marc Stein on a possible contract extension for Tom Thibodeau with the Knicks

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  • Tom Thibodeau Salary: Over 7 million US dollars

Patience in contract negotiations has already paid off for Thibodeau. The Sacramento Kings recently extended coach Mike Brown's contract, which is worth $8.5 million per year. With many of the highest-paid NBA coaches making double-digit amounts, it makes sense that Thibodeau's contract will be worth at least $10 million per season.