Move over Gregg Popovich. There’s a new sheriff in town and his name is Erik Spoelstra of the Miami Heat.
Coach Spo has just made NBA history after news broke that the two-time NBA champion coach had just agreed to a massive new deal with the Heat.
Erik Spoelstra Agrees $120 Million Extension With Heat
According to ESPN’s NBA guru Adrian Wojnarowski, Miami’s front office has just struck a deal with their long-standing coach. Spoelstra’s new contract is reportedly worth more than $120 million over eight years:
ESPN Sources: Miami Heat coach Erik Spoelstra’s contract extension includes the most committed coaching money in history: eight-years, $120-plus million. pic.twitter.com/S7cX4a3gwW
— Adrian Wojnarowski (@wojespn) January 10, 2024
As Woj indicated in his tweet, Spoelstra’s new deal represents the most money committed to a head coach in the history of the league.
This now brings up Coach Spo’s annual salary to roughly $15 million per season.
Technically speaking, however, Spoelstra still isn’t the highest-paid coach in the NBA today. This honor still belongs to the San Antonio Spurs’ legendary head coach Gregg Popovich, who is reportedly pocketing upwards of $16 million per year.
It’s only fitting that Spoelstra is now just behind Popovich in terms of the monetary hierarchy among NBA coaches. After all, many consider Spoelstra to be the next great head coach next to Coach Pop.
This season, Spoelstra has coached the Heat to a 21-15 record. They are currently fourth in the Eastern Conference and are a full 7.0 games behind the top-seeded Boston Celtics.
Despite the team’s rather mediocre performance thus far — at least by Miami’s high standards — the Heat are still fully expected to be a contender for the title this season.
The front office is well aware of how important Spoelstra is to the team, and they’ve rewarded him handsomely with this new record-breaking deal.
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