Knicks Rumors: Tom Thibodeau Contract Extension Expected in ‘Near Future’

The New York Knicks are expected to sign head coach Tom Thibodeau to a contract extension “in the near future,” per longtime NBA reporter Marc Stein.

“A contract extension is likewise expected in the near future for coach Tom Thibodeau. Even if the Knicks run out of financial flexibility to re-sign Isaiah Hartenstein, they should have a team to be reckoned with in the easier East for years to come and built it by religiously adhering to a blueprint that is all their own.”

Thibodeau has one year left on a five-year deal signed before the 2020-21 season, but all signs have been pointing toward the Knicks re-signing the 66-year-old, who has guided the Knicks to the playoffs three times in four seasons, including the Eastern Conference semifinals in 2023 and 2024.

Thibodeau has the backing of his players, including Josh Hart and Jalen Brunson.

“He deserves it,” Hart said regarding a contract extension in May, per Dan Martin of the New York Post. “He’s someone that works extremely hard and he prepares us. He makes sure we have the right mindset. But it’s not in my hands.”

Brunson also spoke with Taylor Rooks of TNT Sports about Thibodeau, defending his coach from the narrative that he works his players too hard and praising how much he prepares the Knicks (begins at 17:33 mark).

At this point, an extension seems like a formality. It’s just a question of when Thibodeau lands it and how much he gets.

Michael Scotto reported on June 17 during the HoopsHype Podcast that “the general belief around the NBA is Thibodeau will get an extension this summer and deserves it.”

Stefan Bondy of the New York Post then added this remark during the podcast:

“I think he’s going to get the extension, and I’m a little surprised it hasn’t happened yet,” he added. “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.”

Stein also reported on June 2 that Thibodeau was a “near certainty” to get a contract extension at a “market rate,” or at least $10 million per season.

We’ll see what the final numbers will be soon enough, but the Knicks are rolling now after agreeing with the Nets on a trade that will land them star wing Mikal Bridges, joining his ex-Villanova teammates in Brunson, Hart and Donte DiVincenzo. They look primed to be a title contender, and Thibodeau looks to be the coach who will guide them during this championship window.