What is Tom Thibodeau Contract in 2023?

Thomas Joseph Thibodeau is among the select NBA coaches of the 2010s who brought unbelievable changes to their teams and successfully revitalized their organization’s dwindling status. Having been a veteran coach in the NBA since the 1990s, Tom has worked under and learned from other great coaching minds like Jeff Van Gundy and Doc Rivers, each of whom have been responsible for introducing changes that drastically improved their team’s underwhelming reputations.

Being the head coach of a team comes with a ton of thoughts, responsibilities, commitments, and also, some good payouts. While the contracts of NBA players earn them way more money and exposure, a coach’s contract has an entirely different structure and conditions.

Thibodeau’s influence has earned him some well-deserved achievements and recognition throughout his career, winning his first NBA title as an assistant coach in 2008, earning the NBA Coach of the Year honors in 2011 and 2021, and winning the gold medal as an assistant coach as part of team USA in 2016 Olympics and 2014 FIBA world cup.

Tom Thibodeau Contract Details

In 2020, Tom signed his most recent long-term deal, a five-year contract that would see him stay with the New York Knicks till the 2024-25 regular season. Thibodeau earns an annual salary of eight million dollars, making him currently the sixth highest earning head coach in the league.

Since 2002, the Knicks management has had a bad rep for releasing their head coaches way early from their long-term deals which some experts have argued, doesn’t allow the head coaches to really sink their teeth in and build a team that can consistently qualify for the playoffs.

Thankfully, the Knicks management has shown confidence in Thibodeau’s potential and experience seeing that he has led the Knicks to two playoffs in his recent three seasons as head coach.

Thibodeau began as head coach with the Chicago Bulls after serving as assistant coach for the Boston Celtics. He brought a fresh approach to winning and took the team to a 62-20 regular season record. Prior to Thibodeau’s arrival, the last time the Bulls closed their regular season with 60 or more wins was in 1998 when they won their sixth championship, completing their second three-peat with Phil Jackson and Michael Jordan at the helm.

Impressed with his coaching, The Bulls signed Thibodeau to a four-year $17.5 Million deal in 2012. His vision and direction led the team to five consecutive playoffs.

After taking a year off, Thibodeau signed a five-year deal worth a reported $40 Million and returned as the head coach of the Minnesota Timberwolves. His arrival broke Minnesota’s streak of missing the playoffs since 2004 but was fired the very next season.

With Tom Thibodeau at the helm, the New York Knicks have a decent chance of repeating their previous season's progress and even reaching the conference finals this season for good measure.