The New York Knicks and head coach Tom Thibodeau have agreed on a new 3-year contract extension that keeps him with the organization through the 2027-28 season, according to ESPN's Adrian Wojnarowski.
Thibodeau, 66, joined the Knicks prior to the start of the 2020-21 season after previously coaching the Chicago Bulls and Minnesota Timberwolves. During his tenure in New York, Thibs has led the Knicks to a 175-143 record and a 55.0 win percentage during the regular season.
After leading the Knicks to the Eastern Conference Semifinals in back-to-back seasons, Thibodeau became the first coach in franchise history to achieve such a feat since Jeff Van Gundy did so in 1999 and 2000. The Knicks have had a winning record in three of Thibodeau's first four seasons, recently recording 50 wins during the 2023-24 season for the first time in over a decade.
The growth the Knicks have made under Thibodeau's guidance has been vast. This organization has gone from one used to picking in the lottery to now being mentioned at the top of the Eastern Conference with the Boston Celtics as the teams to beat due to their philosophy and roster makeup.
Thibodeau, who has always been known for being a hard-nosed, defensive-minded coach, has truly unlocked the most from his players. Led by Jalen Brunson, Julius Randle, and a plethora of key secondary talents, the Knicks ranked seventh and ninth in offensive and defensive rating this past season, respectively. The Celtics, Oklahoma City Thunder, and Denver Nuggets were the only other teams to rank inside the top 10 in both categories during the 2023-24 season.
Heading into the 2024-25 season, the Knicks are primed for even more growth.
Thibodeau, Knicks viewed as title contenders
The Knicks have been extremely busy this offseason, as Thibodeau wasn't the only person within the organization to receive a new contract.
When the free agency window opened up, the Knicks quickly scrambled to keep two-way star OG Anunoby, whom the team had acquired at the trade deadline from the Toronto Raptors. He agreed to a new five-year, $212.5 million contract. Then, the Knicks struck a deal with the Brooklyn Nets to acquire rising star Mikal Bridges, adding even more two-way talent to their roster.
More recently, the Knicks came to an agreement on a new $156.5 million extension, over $100 million less than he could have received next season. Brunson accepted this offer from the team in order to help them with their long-term financial situation and to help the team achieve championship-like success right now.
Thibodeau's extension with the Knicks was inevitable, and he was the next in line to get paid this summer. Now, the question for the Knicks turns to Julius Randle and what the organization will do with the three-time All-Star as he enters the final guaranteed year of his current contract at $28.9 million. Randle owns a $30.9 million player option for the 2025-26 season.
If anything has become clear, it is that the Knicks are all-in to win right now. Brunson is playing like a real MVP candidate, and the acquisition of Bridges this offseason has reunited the former Villanova star with three of his teammates: Brunson, Donte DiVincenzo, and Josh Hart. These four former Villanova players won a national championship together in 2016.
As the Knicks prepare for the 2024-25 season as legitimate title contenders from the Eastern Conference, Thibodeau continues to cement his name in franchise lore. In fact, he is the first Knicks coach to receive an extension since Isiah Thomas, who coached the team from 2006-08. The 175 total games that Thibodeau has won with the team since he began coaching in New York rank fifth on the organization's all-time wins list. He can surpass Pat Riley for the fourth-most wins in team history with at least 49 victories this upcoming year.
With lofty expectations placed on his shoulders, Thibodeau will be looking to lift the Knicks past the Eastern Conference Semifinals and into the conference finals during the 2024-25 season for the first time since 2000.
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