Report: Knicks' Tom Thibodeau Set for Massive Payday

Tom Thibodeau's next contract with the New York Knicks could prove unique among his peers.

Apr 12, 2024; New York, New York, USA; New York Knicks head coach Tom Thibodeau looks on during the / Vincent Carchietta-USA TODAY Sports

As AC/DC once said, money talks. The money the New York Knicks are reportedly set to pay head coach Tom Thibodeau is about to scream.

Per Shams Charania of The Athletic, the Knicks are set to make Thibodeau one of the NBA's most expensive coaches once the team's active playoff run ends. Thibodeau has one year left on his current Knicks deal and it's unlikely he'll go into the 2024-25 campaign in a lame duck situation.

Apr 4, 2024; New York, New York, USA; New York Knicks head coach Tom Thibodeau coaches against the / Brad Penner-USA TODAY Sports

"You're not going to let a head coach like Tom Thibodeau go into a lame duck year," Charania said on FanDuel's "Run It Back" web series. "That's why I'm told that both sides will discuss a new deal in the offseason. The Knicks very much want to lock in Tom Thibodeau long-term."

Charania notes that Thibodeau is making about $7 million on his current deal but his next contract could make him one of the league's highest paid coaches.

"It wouldn't surprise anyone if his next deal approaches eight figures," Charania said. Gregg Popovich (San Antonio), Erik Spoelstra (Miami), and Monty Williams (Detroit) are among those making $10 million per season and Mike Budenholzer recently earned the big bucks upon his invitation from the Phoenix Suns.

Thibodeau has certainly left his mark on Knicks history: as he's working through his fourth season, he's set to become the first Manhattan boss to make it to his fifth since Jeff Van Gundy (1996-2002). Only six other active coaches have been with their current posting longer than Thibodeau and he ranks fifth among active bosses in wins with 527, having previously led Chicago (2010-15) and Minnesota (2016-19).

Mar 31, 2024; New York, New York, USA; New York Knicks head coach Tom Thibodeau looks on during the / John Jones-USA TODAY Sports

Thibodeau currently ranks fifth in both Knicks regular season (175) and playoff (14) victories but this season could well be his magnum opus.

In the face of numerous injuries to major personnel, Thibodeau guided the Knicks to 50 wins and their first top-two posting since 2013. New York is also the closest it has been to an NBA Finals appearance since its last conference finals posting in 2000, needing only one more win in the semifinal round against the Indiana Pacers to advance.

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