Erik Spoelstra signs 8-year, $120 million-plus contract extension to stay as Miami Heat coach Kayleigh Edmondson-USA TODAY Sports FacebookTwitterFlipboardReddit Erik Spoelstra Stras signs huge 8-year, $120 million extension to stay in Miami Heat Coach Originally published on Fadeaway World by Ishaan Bhattacharya.
Last Updated: 01/09/24 The Miami Heat have extended Erik Spoelstra’s contract with the franchise, giving the longtime head coach a huge eight-year deal worth approximately $120 million.
granted an extension.
This is arguably the largest contract ever received by an NBA coach, but Spoelstra earned it by establishing the Heat as a consistent Finals threat over the past five seasons.
“ESPN Source: Miami Heat coach Erik Spoelstra’s contract extension includes record coaching money: more than $120 million over eight years for
Spoelstra has coached the Heat since the 2008-09 season, leading the team to two championships and five NBA Finals appearances.
He has missed the playoffs three times since joining the team.
He has a career record of 725-506 with the Heat and will lead the team until 2032.
So far this season, the NBA’s three highest-paid coaches lead all franchises below .
500.
Monty Williams signed a $72 million contract to coach the Pistons, and with a current record of 3-33, the blow hit him immediately.
The second-worst team in the NBA is the Spurs, coached by the legendary Gregg Popovich, who signed a contract extension over Monty in the summer.
Finally, four-time champion Steve Kerr is having his worst season as the Warriors’ head coach with a 17-19 record so far this season.
In 2010, LeBron James almost fired Erik Spoelstra.
Erik Spoelstra became the winningest coach in Miami Heat history, even surpassing the record set by Pat Riley with the franchise.
But Spoelstra didn’t get off to a perfect start, especially when he took over the Heat’s superteam with LeBron James, Dwyane Wade and Chris Bosh.
Spoelstra’s tenure with the Heat ended with the formation of the Heatles, as Pat Riley revealed that LeBron tried to fire Spoelstra to bring Riley back as coach after the first 17 games of his first season in Miami.
It could have ended with.
“They just said, ‘We don’t feel it,’ and things like that.
“We talked about the typical things we have to do, put up with, and all that stuff.
And I remember LeBron looking at me and saying, “Do you ever feel itchy?
” I said, “What is that itch for?
” He said, “Are you interested in coaching again?
” I said, “No, I’m not.
” He didn’t ask any more questions and I didn’t answer any more.
But I know what it means, and I always wonder what he was thinking at the time.
He went outside and scratched his itchy feet.
Not firing Spoelstra turned out to be the best decision Riley ever made for the franchise.
He turned around the Heat’s season, losing to the Mavericks in the 2011 NBA Finals.
After that, they won an overwhelming title in 2012, and in the 2012-13 season, they recorded the second longest winning streak in NBA history (27 wins) and won another title.
Spoelstra went on to reach the finals three more times, but was unable to bring Miami another title.
The performance itself is an overachievement, as the Heat haven’t had a team chosen to win a title since LeBron left in 2014.
I hope Spoelstra continues his reign as coach and brings more success to Miami.