Knicks head coach Tom Thibodeau expected to ink new deal reportedly worth $10 million annually: Reports
New York Knicks coach Tom Thibodeau is expected to sign a lucrative new deal extending his tenure with the team beyond the next season. Thibodeau, 66, is currently set to coach the final year of his contract in 2024-25.
According to NBA insider Marc Stein, there is an expectation that Thibodeau, who has led the Knicks to the playoffs in three of his four seasons, will receive a new contract worth $10 million annually.
Stein noted this was expected to be finalized during Summer League.
“There was a strong expectation [at Summer League] that a contract extension for Knicks coach Tom Thibodeau will be announced in the near future…Has been regarded for weeks as a lock to receive a new deal that pays at least $10 million annually,” he said (per @NBA_NewYork)
Last season, the Knicks secured the second seed in the East and, despite playoff injuries, reached the second round before being eliminated by the Indiana Pacers in seven games.
According to Sam Amick, Thibodeau's current contract pays him around $7 million per year, which is low compared to the eight-figure salaries of many head coaches.
ESPN BET sets Knicks’ projected win total at 53.5 games
ESPN BET has posted win totals for all 30 NBA teams ahead of the upcoming season, with the Knicks projected to win 53.5 games. They finished last season with a 50-32 record, second-best in the Eastern Conference.
The Knicks have been active this offseason, trading for Mikal Bridges and securing long-term deals for OG Anunoby and Jalen Brunson.
In exchange for Mikal Bridges, the Knicks traded Bojan Bogdanovic, unprotected first-round picks in 2025, 2027, 2029 and 2031, a protected 2025 Milwaukee first-round pick, a 2028 unprotected pick swap and a 2025 second-round pick. The Nets also included a second-round pick in the deal.
While the Knicks gave up numerous assets, they still retain some first-round picks for the coming years. They have two first-round picks in the 2024 NBA Draft, No. 24 and No. 25.
Additionally, they own Detroit and Washington picks in 2025, with Detroit’s pick protected 1-13 and Washington’s protected 1-10.
They also have their own picks in 2026, 2028 and 2030.
OG Anunoby's extension is for five years, $212.5 million, and Jalen Brunson signed a four-year, $156.5 million contract extension, leaving $113 million on the table to help give the Knicks financial stability.
However, the Knicks suffered a massive blow as they lost Isaiah Hartenstein in free agency, slimming down their frontcourt depth.
The reigning champion Boston Celtics have the highest projected win total for next season at 58.5, having led the league with 64 wins last season.
In the Western Conference, the OKC Thunder, who acquired Hartenstein, have the highest projected win total at 55.5 wins.