NBA Insider Updates Knicks Contract Extension

The end of Summer League play has placed head coach Tom Thibodeau one step closer to an extension with the New York Knicks.

Jan 6, 2024; Washington, District of Columbia, USA; New York Knicks forward Julius Randle (30) smiles while exiting the game as Knicks head coach Tom Thibodeau (R) looks on against the Washington Wizards in the fourth quarter at Capital One Arena. Mandatory Credit: Geoff Burke-USA TODAY Sports / Geoff Burke-USA TODAY Sports

The New York Knicks have handed out contract extensions to major personnel left and right this offseason. Another might be on the way now that Summer League play has wrapped.

Longtime NBA insider Marc Stein revealed in his latest newsletter that Thibodeau and the Knicks remain on pace for an extension, hinting that the end of the franchise's latest Summer League slate could give them more time to negotiate. Stein also said that the Knicks still plan to make Thibodeau one of the highest-paid men in his profession.

"There was a strong expectation (at Summer League) that a contract extension for Knicks coach Tom Thibodeau will be announced in the near future," Stein wrote (h/t New York Basketball on X). "(He) has been regarded for weeks as a lock to receive a new deal that pays at least $10 million annually."

May 19, 2024; New York, New York, USA; New York Knicks head coach Tom Thibodeau coaches against the Indiana Pacers during the third quarter of game seven of the second round of the 2024 NBA playoffs at Madison Square Garden. Mandatory Credit: Brad Penner-USA TODAY Sports / Brad Penner-USA TODAY Sports

The eight-figure plateau is rarefied air, even in the modern NBA: per Front Office Sports, only six of the league's 30 bosses are making at least $10 million, paced by Steve Kerr of Golden State at $17.5.

Thibodeau was a sideline staple in Las Vegas, watching assistant Dice Yoshimoto lead the Knicks' prospects for the fourth consecutive season. The team headlined by draft picks Pacome Dadiet and Tyler Kolek won its final three games after dropping the first couple, wrapping things up with a 90-82 triumph over the Atlanta Hawks' group on Saturday night.

Thibodeau certainly earned a rest after what likely stands as his magnum opus to date: his fourth year at the metropolitan helm was beset by numerous injuries to major contributors but he still mustered 50 wins en route to a second-place finish on the Eastern Conference leaderboard. Barring disaster, he is set become the first New York head coach to make it to his fifth season since Jeff Van Gundy did so at the turn of the century.

This time around, Thibodeau will get to work with newcomers like Mikal Bridges amidst most of last season's unit, which retains All-Stars Jalen Brunson and Julius Randle, as well as viral contributors like OG Anunoby, Donte DiVincenzo, and Josh Hart.

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