Chicago Bulls Management: Do They Need to Pay Tom Thibodeau Now?

Over the weekend, ESPN's Marc Stein reported that Bulls coach Tom Thibodeau was "dismayed" with the lack of a contract extension from the Chicago Bulls. Is this something to worry about?

To start things off, Thibodeau is absolutely a guy that the Bulls NEED to hang on to. Even though he has only coached about two seasons with the team, he has already established himself among the league's elite coaches.

Last season, Thibs tied the all-time record for most wins in a rookie coaching season, and won Coach of the Year in his first season. This season, he became the quickest coach to 100 wins, needing a mere 130 games to get there. He has also guided the Bulls to the top overall seed in both seasons, as of April 3. 

Thibodeau is also known as perhaps one of the most dedicated coaches in all of professional sports. All we hear coming out of Chicago from Rose and company is that Thibodeau is ALWAYS at the Berto Center studying tape and preparing. This is in some ways worrisome, since you worry at times about Thibs' emotional well being, but as long as he does his job and enjoys what he does, who are we to judge?

So whether or not the Bulls get a deal done right now, Thibodeau is absolutely a coach whom the Bulls should want to keep around. Should the Bulls be negotiating right now?

The short answer is no. 

Thibs is on the second year of his three-year contract that pays him slightly over $2 million a year right now. An idea would have been to extend him after one year, but that would not have been a good idea. Many coaches have had incredible runs in one season, only to fall off a cliff the next. Think of Mike Brown and Sam Mitchell, both former Coach of the Years who were gone soon afterwards.

On Thibodeau's side, he could potentially earn himself even more by maintaining a high level of success, and he has done just that. So not extending Thibs during the summer was a smart move for both sides. 

If you're Chicago Bulls management, why would you distract the team in any way right now? If Thibodeau were to start negotiating a contract with the Bulls, it would be a distraction from the product on the floor. If Thibodeau's agent doesn't like the numbers that Chicago throws around, then it can only hurt Thibodeau's attitude towards the team, and that could affect his work ethic and the tone of the locker room. 

Why would the Bulls take a chance like that during a season like this?

When it gets down to numbers, the Bulls should offer Thibodeau somewhere around five years for $30 million, which would tie him with Greg Popovich and Mike D'Antoni as the second highest paid coaches in the league, only behind Doc Rivers.

That number also ties him for fifth among North American Head Coaches for salaries, behind only Rivers, Bill Belichick, Mike Shanahan and Pete Carroll. If Thibs wins a title, he may even get more, but 5/30 is fair for now. 

But overall, now is not the time to negotiate. Thibodeau's value is likely to stay the same until the end of the season, barring only a championship or a first-round upset. So if the Bulls can wait until the offseason, they can come up with a deal that fits both sides, and keep Thibs in Chicago for the long run. 

*all salary numbers from Forbes