Heat sign Spoelstra to reported 8-year, $120M extension

The Miami Heat signed longtime head coach Erik Spoelstra to a long-term contract extension, the team announced Tuesday, according to Ira Winderman of The South Florida Sun Sentinel.

Spoelstra and the Heat agreed to an eight-year deal worth more than $120 million, sources told ESPN's Adrian Wojnarowski. It's the most committed coaching money in NBA history, according to Wojnarowski, surpassing the amount Monty Williams received from the Detroit Pistons last summer.

Spoelstra was in the final year of his previous pact. The 53-year-old is in his 16th season at the helm, trailing only Gregg Popovich as the longest-tenured bench boss in the Association.

Spoelstra has gone 725-506 since taking over for the legendary Pat Riley in 2008-09. He's guided the Heat to six Finals appearances during his time at the helm, including back-to-back titles in 2012 and 2013.

Spoelstra sits fifth on the NBA's all-time list for playoff wins after guiding Miami to another championship series last season. In February 2022, he was named one of the 15 greatest coaches in league history.

Spoelstra has been with the Heat organization since 1995, serving as the team's video coordinator before eventually ascending to his current position.