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Knicks Head Coach Tom Thibodeau Expected to Receive Extension at ‘Market Rate’ — How Much Is It?

Tom Thibodeau - Indiana Pacers v New York Knicks - Game Five

(Photo : Sarah Stier/Getty Images) NEW YORK, NEW YORK – Head coach Tom Thibodeau of the New York Knicks directs his team during Game 5 of the Eastern Conference Second Round Playoffs against the Indiana Pacers at Madison Square Garden on May 14, 2024 in New York City. The Knicks won 121-91.

The New York Knicks are pleased with head coach Tom Thibodeau’s tenure thus far.

With one year remaining on his contract with the team, the 66-year-old is highly likely to extend his time with the franchise.

The Knicks are virtually guaranteed to offer Thibodeau a contract extension following years of upward trajectory for the team under his leadership, according to league insider Marc Stein in his Substack newsletter.

The team is coming off a season marred by injuries to many key players. Still, they finished as the second seed in the Eastern Conference with a 50-32 record before losing to the Indiana Pacers in seven games with a depleted roster in the second round. 

Read more: Chicago Bulls’ Asking Price for Star Zach LaVine Has Plummeted, Team Might Be Willing to Take Bare Minimum

Thibodeau took over the struggling Knicks franchise on a five-year deal ahead of the 2020-21 season. 

Thibodeau has guided his team to the playoffs three times during his four seasons in the Big Apple, including trips to the Eastern Conference semifinals for the past two seasons.

Knicks will sign Tom Thibodeau at ‘market rate’

The two-time NBA Coach of the Year will receive an extension and additional financial rewards, as the Knicks are anticipated to sign him at the “market rate,” amid rising head coach salaries across the league.

Thibodeau could sign a contract worth around $10 million per season. 

The one-time NBA All-Star game head coach makes about $7 million annually on his current deal, per league insider Sam Amick of The Athletic.

Related Article: Brooklyn Nets Point Guard Dennis Schröder Makes Professional Soccer Debut in Native Germany   

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