Rick Carlisle's new contract keeps in Dallas till after the 2021-22 season

Rick Carlisle is one among only five active Head Coaches in the NBA that have a championship to their name.

The Dallas Mavericks franchise have decided to go long term with current Head Coach Rick Carlisle. Late on Thursday, both parties have said to have agreed to a 5-year extension worth 35 million dollars. The Mavericks had a team option on Carlisle’s contract for next season, which they have exercised given the big bucks offered to him in his new extension. His new contract, which was first reported by ESPN’s Marc Stein, will kick in from the 2017-18 season and span right up to the 2021-22 season.

Carlisle’s new contract, which takes him well into his second decade with the franchise, also makes him the highest paid Head Coach, among those who do not have the dual executive role. He is currently in his eighth season with the Mavericks with an overall record of 340-222, just recently surpassing Don Nelson for winningest coach in franchise history after Dallas beat the Los Angeles Lakers 103-93 at Staples Center.

Confirming the extension, Carlisle issued a statement:

"Mark Cuban, Donnie Nelson and Dirk Nowitzki are the reason an extension like this is possible. I have best owner and general manager in sports, and one of the greatest players in NBA history to thank for this opportunity. There is much work to be done as we move forward.”

After successful coaching stints in Detroit with the Pistons and in Indiana with the Pacers from 2001 to 2007, Carlisle took up the job with the Maverciks in 2008. Leading the team to a championship in 2011, made him only the 11th person to win a NBA Championship as a player and Head Coach, having already won a ring as a player with the 1986 Boston Celtics. The 2011 title was a first in franchise history and owner Mark Cuban was not about to let go off the Head Coach who made that possible.

"I'm excited to have him back for the long term," Cuban said. "He's earned it. He's worth it. We're a better organization on and off the court because of him. Rick is a top-three coach in the league. Just having that kind of ability, you can't really quantify it."

The Mavericks wanting to keep their Head Coach long term comes as no surprise as owner and President of Basketball Operations Don Nelson in April regarded Carlisle as their Jerry Sloan, referring to the Hall of Famer Head Coach who spent 23 years with the Utah Jazz. "He can be in Dallas as long as he wants to be," Nelson said after the Mavericks were eliminated in the 2015 NBA Playoffs in 5 games by the Houston Rockets.

"He's been the man here ever since he got here," Dirk Nowitzki said. "He just knows how and when to push the right buttons. In a long season, that's sometimes tough.” Currently, Carlisle is the third longest tenured Coach in the league behind San Antonio Spurs’ Gregg Popovich and Miami Heat’s Erik Spoelstra.

Here are the highlights from the Mavericks win, which made Carlisle the winningest Coach in franchise history:

ESPN sources: Rick Carlisle and the Dallas Mavericks have finalized a five-year, $35 million contract extension

— Marc Stein (@ESPNSteinLine) November 5, 2015