Knicks Rumors: HC Tom Thibodeau ‘Just Looking for Market Value’ on Contract Extension

New York Knicks head coach Tom Thibodeau has taken notice of the soaring salaries for his peers across the NBA, according to the New York Post‘s Stefan Bondy.

Michael Scotto reported on the HoopsHype Podcast that “the general belief around the NBA is Thibodeau will get an extension this summer and deserves it.” Bondy, who was a guest on the episode, provided more context.

“I think he’s going to get the extension, and I’m a little surprised it hasn’t happened yet,” he said. “My understanding is he’s just looking for market value. If I were guessing here, I’d say it’s a three-year extension at $33 million. I’m throwing that out there as a complete guess.”

The Detroit Pistons blew the coaching market wide open when they handed Monty Williams $78.5 million over six years last offseason. Multiple coaches have cashed in since then, with Ty Lue most recently getting $14 million annually on an extension with the Los Angeles Clippers.

Thibodeau’s contract with the Knicks runs through the 2024-25 season, so now is the time to re-sign him in order to eliminate any doubt about his long-term future. The Athletic’s Fred Katz canvassed eight front office officials from around the NBA, who speculated the two-time Coach of the Year could get anywhere from $10 million to $13.3 per year.

Thibodeau has guided New York to the playoffs in three of his four seasons at the helm, and last year brought the first 50-win campaign since 2012-13.

The Knicks’ exit in the Eastern Conference semifinals did, however, raise some existential questions.

Many wondered whether Thibodeau’s tendency to lean heavily on his starters — four players averaged 33-plus minutes per game in the regular season — played a role in the raft of injuries or at least meant the reserves were ill-equipped to step up when needed.

At a certain point, it stops being a coincidence that Thibodeau has guided a team to the conference finals just once in nine postseason trips.

New York can’t afford to play hardball with its head coach because the franchise was stuck in the mud for years before he arrived. Simply getting to the conference semis is better than what preceded Thibodeau’s arrival.

When it comes to his contract status, the real intrigue may come from the length of his deal. The Knicks may want to leave themselves with some flexibility that allows them to move on in a few years if they’ve seemingly hit a ceiling with the 66-year-old at the helm.