Erik Spoelstra calls extension ‘humbling’ and praises Heat stability: ‘I’m just incredibly grateful’

Erik Spoelstra was hired by the Miami Heat as a video coordinator in 1995. This week, the Heat made Spoelstra one of the highest-paid coaches in NBA history.

Spoelstra, who entered this season in the final year of his contract, signed a new eight-year contract extension on Tuesday to remain the Heat’s head coach. The deal is worth more than $100 million, the source said, which is the biggest contract in terms of total salary ever given to an NBA coach.

The contract also makes Spoelstra one of the NBA’s highest-paid coaches on an annual basis. San Antonio Spurs coach Gregg Popovich (signed a five-year contract worth $80 million this past offseason) and Detroit Pistons coach Monty Williams (signed a six-year, $78.5 million deal this past offseason) entered this season at the top of that list.

There is no front office position language in Spoelstra’s new deal, a source said, but that does not rule out such a possibility down the road.

“It’s very humbling to be able to have that kind of continued stability and then basically for the staff, as well, that we can wrap our minds around the foreseeable future,” Spoelstra said of the extension ahead of Wednesday night’s matchup against the Oklahoma City Thunder at Kaseya Center. “If you talk about stability, every franchise in pro sports throws those kinds of terms of stability and family and consistency and continuity, everybody throws that out there. But very few actually execute it.

“And that’s why I’m just incredibly grateful for the Arison family, Micky and Nick, and [general manager Andy Elisburg]. Obviously, my relationship with [Heat president Pat Riley], outside of my parents, Pat is the biggest mentor I’ve ever had in my life.”

With the new contract beginning next season, the deal runs through the 2031-32 season when the now-53-year-old Spoelstra will be 61. The 2031-32 season would also be Spoelstra’s 24th season as the Heat’s head coach.

“That’s humbling,” Spoelstra said when asked about the thought of coaching into his 60s. “I still view myself as a young guy in this profession. When you start saying I’ll be 60, I was wondering who you were talking about. I haven’t thought that far ahead. I just want to take this responsibility to be a caretaker.”

Spoelstra, who is now in the middle of his 16th season as the Heat’s head coach, has established himself as one of the NBA’s top coaches.

Promoted to head coach prior to the 2008-09 season, Spoelstra is the second-longest active tenured head coach with one team behind only Popovich.

“Ultimately, Andy and I have talked about this a bunch and Nick and I have talked about it,” Spoelstra said. “In this business, you really just also want to work with great people who are well intentioned. There’s going to be ups and downs in this business. We enjoy the process of trying to do special things, but we enjoy being around each other. We’ve had some tough times and tough years, and that’s when we’ve really rallied around each other the most. I grew up in the NBA business, so I understand how unique that is and that’s why I feel a great responsibility to be a caretaker for this culture now and moving forward. It’s a unique responsibility that is deep in my blood at this point.”

In Spoelstra’s first 15 seasons as head coach, the Heat finished with a losing record just twice. He has compiled a 725-506 regular-season record in that time, leading the Heat to six NBA Finals appearances and winning two NBA championships in 2012 and 2013 with teams led by Chris Bosh, LeBron James and Dwyane Wade.

The Heat has qualified for the playoffs 12 times in Spoelstra’s first 15 seasons at the helm, including in each of the last four seasons.

As far as the Heat record books, Spoelstra is already the winningest head coach in franchise history in both the regular season (725 wins entering Wednesday) and playoffs (109 wins). He passed his predecessor, Riley, on both lists.

Only the Spurs and Boston Celtics have won more regular-season games than the Heat since Spoelstra took over for Riley in 2008, and no team has won more playoff games than the Heat during that span.

Spoelstra, who will be an assistant coach on Team USA’s staff this upcoming summer for the Paris Olympics, ranks 19th all-time in regular-season wins and fifth all-time in playoff wins.

“Worth Every Single Cent of that contract!!! Congrats Spo!!” James tweeted on Tuesday.

Wade also praised Spoelstra, tweeting Wednesday: “That’s my Coach! Happy and Proud is an understatement! His work ethic is unmatched!”

Spoelstra holds the fourth-most wins by a head coach with one team in NBA history behind only Red Auerbach with the Celtics, Jerry Sloan with the Utah Jazz and Popovich with the Spurs.

Spoelstra is also just the third head coach in NBA history to coach 1,000-plus games with only one team, joining Popovich and Al Attles with the Golden State Warriors.

Spoelstra’s new extension ensures there will be many more games to come as the Heat’s head coach.

“There’s so many of us that have worked here 10, 20, 30 years,” Spoelstra said, discussing the stability within the Heat organization. “And that’s the only way you can really have that in your blood. It’s a shame that other organizations can’t get it right. But you have to go through the fires together, where you’re not like, ‘Well, that was a tough season, that’s your fault.’ You rally around each other and I think the best moments we’ve ever had are the growth and learning opportunities we’ve had from tough seasons, disappointing seasons and we’ve come back a lot better as an organization because of those times.”

INJURY UPDATE

The Heat will be without Jimmy Butler (right tie MP joint sprain), Kyle Lowry (left hand sprain), Caleb Martin (right ankle sprain), Dru Smith (right knee surgery) and Cole Swider (G League) on Wednesday night against the Oklahoma City Thunder.

Josh Richardson, who was on the injury report with neck spasms, will be available to play for the Heat.