Heat sign Erik Spoelstra to monstrous $120 million contract extension
Nov 30, 2022; Boston, Massachusetts, USA; Miami Heat head coach Erik Spoelstra reacts during a break as they take on the Boston Celtics at TD Garden. Mandatory Credit: David Butler II-USA TODAY Sports
The Miami Heat are locking up head coach Erik Spoelstra for a long time.
The Heat have signed Spoelstra to a long-term contract extension, according to AP reporter Tim Reynolds. ESPN’s Adrian Wojnarowski reported the deal to be worth a whopping $120 million over eight years.
The guaranteed money is the most committed to a coach in NBA history. Spoelstra’s new deal obliterated the previous record holder.
BREAKING: Erik Spoelstra has signed a long-term contract extension with the Miami Heat. pic.twitter.com/OFxjoedmsC
— Tim Reynolds (@ByTimReynolds) January 10, 2024
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
Spoelstra has been widely regarded as one of the best coaches in the NBA for a long time. He has a career coaching record of 725-506 — a win rate of 58.9% — across 16 seasons with the Heat.
Spoelstra has won two championship rings, made six trips to the NBA Finals, and has only had two losing seasons as a head coach.