Knicks Rumors: Tom Thibodeau Contract Extension Eyed, Could Approach $10M Per Year

The New York Knicks are reportedly expected to hold contract extension discussions with head coach Tom Thibodeau this offseason that could result in a significant raise.

During an appearance Wednesday on Run It Back, Shams Charania of The Athletic and Stadium said the Knicks "very much want to lock in" Thibodeau to a long-term deal, and it "wouldn't surprise anyone" if his new deal pays him $10 million or more per year:

Under Thibodeau's guidance, the Knicks are one win away from reach the Eastern Conference Finals for the first time since 2000.

Thibodeau, 66, is set to enter the final year of his contract next season, but Charania said the Knicks won't let Thibs go into a "lame-duck year" without a new deal.

The two-time NBA Coach of the Year joined the Knicks in 2020 after previous head coaching stints with the Chicago Bulls and Minnesota Timberwolves.

New York was in the midst of a seven-year playoff drought before Thibodeau's arrival, but during his four-year run in the Big Apple, the Knicks have reached the postseason in three out of four campaigns.

This season, the Knicks went 50-32, which was their best record since 2012-13, and they reached the second round of the playoffs for a second consecutive year.

Despite being without several key players, including Julius Randle, OG Anunoby and Mitchell Robinson, the Knicks hold a 3-2 series lead in the second round over the Indiana Pacers following their 121-91 blowout win in Game 5.

All-Star guard Jalen Brunson, who signed with the Knicks in free agency prior to last season, has been a dominant force in these playoffs, leading all players with 33.9 points per game under Thibodeau's guidance.

This season has already been a success for the Knicks, and while reaching the Eastern Conference Finals would mean exceeding expectations most had for them before the season, Thibodeau has earned a new deal regardless.

Anything can happen if the Knicks reach the ECF, but they have the makings of a championship contender next season if they can stay healthy with Brunson, Randle, Josh Hart and Donte DiVincenzo all set to return, and Anunoby holding a player option to return.

Thibodeau seems to be the right person to guide that group, and he is in line to be compensated handsomely as a result.