New York Knicks head coach Tom Thibodeau has one year left on his five-year contract that he signed with the franchise, but he reportedly is very likely to get an extension that could be $10 million or more after the success he has had over the last few years.

“League sources say that Knicks coach Tom Thibodeau should be viewed as a virtual certainty to score a contract extension this off-season ‘at the market rate,' which translates to an annual wage of at least $10 million, after New York's run to the brink of the Eastern Conference finals with one of the league's longest injury lists in a postseason wracked with injuries,” Marc Stein reported in his newsletter.

It seems like a certainty that the Knicks will extend Thibodeau, and it makes sense given the success that he has had as the coach, as well as how the players seem to like him. Jalen Brunson and Josh Hart specifically have spoke about the positive influence that Thibodeau has on them. Owner James Dolan is not shy when it comes to paying for something he believes is worth it.

Thibodeau was hired by the Knicks ahead of the 2020-2021 season, and he led them to the playoffs after many years of losing, and won coach of the year for that effort. New York went out in the first round of the playoffs that year. The following season, the Knicks missed the playoffs with a 37-45 record after the signings of Evan Fournier and Kemba Walker did not work out.

Then, after signing Jalen Brunson, the Knicks have become one of the better teams in the Eastern Conference. In 2022-2023, New York went 47-35 and made the second round of the playoffs for the first time since 2013. This past season, the Knicks went 50-32, got the No. 2 seed in the Eastern Conference and lost in the second round again, with injuries playing a big role in that.

Knicks looking to take next step with Tom Thibodeau as head coach

Article Continues Below
More New York Knicks News
New York Knicks guard Jalen Brunson (11) reacts in the second quarter during game six of the eastern conference finals against the Indiana Pacers for the 2025 NBA Playoffs at Gainbridge Fieldhouse.
How Pacers’ Jalen Brunson stopper changed Game 6Jaren Kawada ·
New York Knicks head coach Tom Thibodeau (R) and Knicks guard Jalen Brunson (11) look on during a stoppage in play against the Washington Wizards in the third quarter at Capital One Arena.
Knicks rumors: 2 key people in Tom Thibodeau’s corner amid calls for firingTroy Finnegan ·
New York Knicks guard Jalen Brunson (11) and center Karl-Anthony Towns (32) and guard Josh Hart (3) react in the fourth quarter against the Indiana Pacers during game five of the eastern conference finals for the 2025 NBA Playoffs at Madison Square Garden.
Knicks’ Karl-Anthony Towns gets emotional gushing over Jalen Brunson after ECF lossMalik Brown ·
Magic Johnson attends a WNBA game between the Los Angeles Sparks and the Minnesota Lynx at Crypto.com Arena.
Magic Johnson reveals why Knicks lost ECF to PacersBenjamin Adducchio ·
image thumbnail
Kevin O’Connor drops wild Karl-Anthony Towns trade take after Knicks ECF lossOwen Crisafulli ·
Knicks head coach Tom Thibodeau looks on prior to game six of the eastern conference finals against the Indiana Pacers for the 2025 NBA Playoffs at Gainbridge Fieldhouse
Knicks’ Tom Thibodeau hints at ‘big offseason’ after ECF loss to PacersJosue Pavon ·
New York Knicks head coach Tom Thibodeau
Bill Streicher-USA TODAY Sports

The Knicks seem confident in their direction with Thibodeau, and hope to reach new heights in the next few years building around Brunson. Hopefully Julius Randle can get healthy, and the Knicks can have their two All-NBA players ready to go to truly contend deep in the playoffs next season. Randle could also be used in a trade.

The other questions to answer relate to OG Anunoby and Isaiah Hartenstein. The Knicks completed a blockbuster trade for OG Anunoby this past season, so it seems unlikely that the team would not be willing to make the financial commitment to keeping him next season. Isaiah Hartenstein is a bigger question mark, as he will surely have some good offers this summer.

Regardless, the Knicks have a strong core, and they have flexibility to go big game hunting if a superstar player comes available, utilizing their draft picks that they still have, and possibly including Randle in the deal as well.

Out of all the questions the Knicks have to answer this summer, it seems likely that Thibodeau will be locked in for the long haul.