The Miami Heat and head coach Erik Spoelstra are putting the final touches on a record setting 8 year, $120M contract extension according to reports.
When the deal becomes official, it will represent the most committed money in North American sports history for a coach, carrying an AAV of $15M per season. Spoelstra is currently the 2nd highest paid coach in the NBA trailing only Spurs bench boss Gregg Popovich at $19M per season. However the term of the deal is what makes the extension an historic one.
The 53 year old has been head coach of the Heat since the 2008 season, and has won 2 championships with Miami, while appearing in 6 NBA Finals over his career. Despite never having won a coach of the year award, Spoelstra is widely regarded as one of the best coaches in the league, and has amassed a 704-491 (.589 win %) lifetime record in the NBA.
After hearing about the extension, Lakers star forward, and former Heat player under Spoelstra, LeBron James took to social media to congratulate his former coach saying “Worth every single cent of that contract!!! Congrats Spo!!”.
Since taking over for Pat Riley in South Beach, the former University of Portland point guard has had only two seasons where his team had a record below .500 (2014-15, and 2018-19), and has never won fewer than 37 games across any season. His Heat teams regularly perform at a higher level than their “on paper” talent suggests they should, as Miami has only missed the playoffs 3 times during the Spoelstra era on the sidelines.
Despite an ever growing list of injuries to key players, the Heat currently sport a 21-15 record, good for 5th place in the Eastern Conference. Over the past few seasons it’s been Miami’s ability to develop players that’s allowed them to remain competitive year over year.
Duncan Robinson, Caleb Martin, Gabe Vincent, and Max Strus are recent examples of players who went undrafted, but ultimately went on to become everyday NBA players under Spoelstra’s guidance. After losing in the NBA Finals to the eventual champion Denver Nuggets, Strus went on to sign a 4 year, $62.3M contract with Cleveland, while Vincent parlayed his playoff success into a 3 year, $33M pact with the Lakers.
From his defensive rotations, to in game adjustments, timeout usage, and player development acumen, Spoelstra is amongst the best in the world at his craft. And now he’s got the contract to prove it.
-Kyle Skinner
Twitter: @JKyleSkinner
Photo: Lawrence Jackson. This file is a work of an employee of the Executive Office of the President of the United States, taken or made as part of that person’s official duties. As a work of the U.S. federal government, it is in the public domain.