Miami Heat’s Erik Spoelstra ‘Still Underpaid’ Despite Record Contract: NBA Exec
It was good news for the Miami Heat and Erik Spoelstra on Tuesday as Spoelstra was given the richest total contract in NBA history, worth $120 million over eight years.
The Athletic’s Shams Charania posted it first, writing on Twitter/X, “Miami Heat’s Erik Spoelstra – a two-time NBA champion and top-20 in all-time coaching wins – is signing a new contract extension with the franchise that makes him one of the top paid head coaches.”
Then, from ESPN’s Adrian Wojnarowski, came the details of just how much Spoelstra would be making from here: “ESPN Sources: Miami Heat coach Erik Spoelstra’s contract extension includes the most committed coaching money in history: eight-years, $120-plus million.”
That is a good payday by any measure. But considering what Spoelstra has done in Miami in his tenure with the Heat, he still might not be getting enough. That’s the view from one Eastern Conference executive who spoke with Heavy Sports about the deal.
Erik Spoelstra is 725-506 in his Career
Certainly, Spoelstra has earned his new contract extension, given the sterling record he has posted with a variety of different teams over the years. He started with the Heat in 1995 as a 25-year-old video coordinator, and made his way to assistant coach two years later. He took over the head coaching reins for Pat Riley in 2008, at the age of 38.
Since then, Spoelstra has compiled a 725-506 record and established himself as arguably the best coach in the NBA. Certainly, there have been coaches who have had success and longevity, but their success is usually tied to one or two players. Gregg Popovich with Tim Duncan and the Spurs, for example, or Jerry Sloan with Karl Malone and John Stockton in Utah.
