Knicks Rumors: Tom Thibodeau 'Hopes to Secure' New Contract During 2024 NBA Offseason

Amid another successful season for the New York Knicks, head coach Tom Thibodeau is looking to secure a contract extension soon.

Per The Athletic's Sam Amick, Thibodeau "hopes to secure" a long-term deal from the Knicks with the two sides intending to discuss the situation during the offseason.

It's no surprise he would want to get something done soon given the explosion in coaching salaries over the past year.

Monty Williams' six-year, $78.5 million deal with the Detroit Pistons that was signed last summer made him the highest-paid head coach in NBA history. The record barely lasted one month when the San Antonio Spurs gave Gregg Popovich a five-year extension worth more than $80 million.

In January, ESPN's Adrian Wojnarowski reported Erik Spoelstra signed an eight-year, $120 million deal with the Miami Heat. Steve Kerr's two-year extension with the Golden State Warriors signed in February made him the highest-paid coach by average annual salary ($17.5 million).

Thibodeau's current deal with the Knicks runs through the 2024-25 season. Amick noted his salary is in the range of $7 million per season.

Since being hired in July 2020, Thibodeau has overseen one of the most sustained periods of success for the franchise this century.

The Knicks finished over .500 and made the playoffs in two of his first three seasons. They can clinch a winning record this season with one more victory and are on track to make the postseason yet again.

If the Knicks make the playoffs, it will be the first time they've been in the field in consecutive years since their run of three straight appearances from 2010-11 to 2012-13. They won a postseason series last year for the first time since 2013.

Thibodeau owns a 166-139 record in four seasons as New York's head coach.