ERIK Spoelstra, already the longest-tenured coach in Miami Heat history, is set for an even longer stay with the NBA franchise after signing a multi-year contract extension on Wednesday.
READ Coach Spo never tires of telling story of how he wanted to play in PBA
According to a source with inside knowledge of the agreement, the eight-year extension is worth around $120 million (P6.72 billion), which should go down as the largest contract by an NBA coach in terms of value.
Spoelstra, whose current deal expires after this season, is already in his 29th season with the Heat where he started in the video room. This is his 16th season as coach since taking over from acknowledged mentor Pat Riley in 2008.
The 53-year old has won three NBA titles, including two as head coach, and has taken the Heat to the NBA Finals six times, including last season.
LeBron James, one of the stars in thos title-winning Heat teams, paid the ultimate tribute to Spo after news of the record contract extension broke.
'Worth every single cent in that contract," said the NBA star.
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Spoelstra is the league's second-longest-tenured active coach behind San Antonio's Gregg Popovich [28th season with the Spurs].
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