The Miami Heat have reportedly signed head coach Erik Spoelstra to a long-term extension. According to ESPN’s Adrian Wojnarowski, Spoelstra inked a new deal that will keep him with the franchise for another eight years.
The contract is believed to be worth $120 million, making Spoelstra one of the highest-paid head coaches in sport. He will only trail San Antonio Spurs’ Gregg Popovich, who earns $19 million annually, in terms of average yearly salary.
By signing Spoelstra to a new deal, the Heat gets to keep enjoying coaching continuity rarely afforded to other NBA franchises. They also keep a head coach who embodies the famous “Heat Culture” and regularly gets the best out of teams that are considered less talented compared to NBA contenders.
Erik Spoelstra joined the Heat organization as a video coordinator in 1995 and rapidly ascended through the organization’s ranks. He succeeded legendary head coach Pat Riley in 2008 and, since then, led the franchise to two NBA titles and four more NBA Finals trips.
Spoelstra currently ranks third in wins among active head coaches, trailing Popovich and Indiana Pacers’ Rick Carlisle. His 725 wins also place him in the Top 20 in NBA history.
After a testy start to the 2023-24 campaign, Spoelstra has the Heat playing like a championship contender once again. Miami is currently fifth in the Eastern Conference with a 21-15 record.