Heat Extend Spoelstra

[Built Ford Tough]

A league source said the deal adds two years to Spoelstra's contract to carry him through the 2013-14 season, the same time frame as the Heat's stars, all of whom have opt-outs in their deals after that season.

 

The new deal calls for Spoelstra to earn a $250,000 bonus this season, then $2.75 million for next season and $3 million in 2013-14, sources told ESPN.com.

 

It makes the total value of the extension two years and $6 million. Spoelstra was going into the final year of his contract and was one of the lowest-paid coaches in the league at less than $2 million per season.

 

Spoelstra, 41, is 148-98 in three years as the Heat's coach, with an 18-15 postseason record that includes last season's run to the Finals. Team president Pat Riley announced Spoelstra's extension on Friday.

 

"We have one of the great young coaches in the league and (he) is an absolute member of this family," Riley said. "He's the perfect coach for this team now. The reason why we did it was to extend him and keep him in the family and (not) have somebody come steal him away from us."

 

Spoelstra was not available for immediate comment. The Heat had the day off Friday, and Riley spoke at his annual preseason availability.

 

Spoelstra has been with the team for 17 years, starting in the video room and working his way up. He became one of the youngest head coaches in the league when he was promoted from assistant to replace Riley on the bench in 2008.

 

http://espn.go.com/nba/truehoop/miamiheat/story/_/id/7360189/miami-heat-coach-erik-spoelstra-gets-new-contract-pat-riley-says

 

I guess the rumors/speculation of Riley taking over may have finally be put to rest after extending Spo.

[Flash]

If we don't win it this year the speculation will be worse than ever. I'm all in with Spo though.