Erik Spoelstra Signs Record Extension With Miami Heat

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Miami Heat v Orlando Magic
ORLANDO, FLORIDA - DECEMBER 20: Head Coach Erik Spoelstra of the Miami Heat reacts during the first half of a game against the Orlando Magic at the Kia Center on December 20, 2023 in Orlando, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by James Gilbert/Getty Images)
Spoelstra's new contract is for eight years and $120M.

The Miami Heat have signed head coach Erik Spoelstra to a record-breaking eight-year, $120M contract extension. The money represents the highest monetary commitment to a coach in North American sports history. Spoelstra has served as head coach in Miami since 2008, making six Finals appearances and winning two championships. Having worked with the Heat since 1997, Miami is the only NBA franchise that Spoelstra has worked for.

However, the extension comes after one of Spoelstra's biggest disappointments in his tenure. After months of haggling for Damian Lillard, the Heat had to watch as the All-Star went to the conference rival Bucks. With a 21-15 record, the Heat are fifth in the Eastern Conference. Without any major moves in the offseason, the Heat have been relying on their established pieces to see them back to the Finals.

Read More: Draymond Green Looks For Clean Slate In NBA Return

Shaq Speaks On Heat Jersey Retirement Policy

There have been a lot of stories about the Heat in recent weeks, namely about jersey retirements. After Udonis Haslem explained why he once shaded Bill Russell in a huddle, Shaq weighed in on how the Heat's jersey retirements. “I hate the fact that they hang up other people’s jerseys. I hope I’m not disrespecting anybody by this term. This thing is ours. This is what we built. Michael Jordan ain’t never play for the Heat. Bill Russell ain’t never play for the Heat. You did your own thing with your little Celtics family and Chicago family. But this Miami thing? I was one of the original championship families… this is our thing. So, I don’t like that personally," Shaq said.

Meanwhile, the Orlando Magic have announced that Shaq's jersey will be the first to be retired by the team. "On behalf of the DeVos family and myself and all of us here at the Orlando Magic, we want to congratulate you as we make you the first jersey number retired in the history of the Orlando Magic. You had a great career here at the beginning of your career and we had some great times!" Magic CEO Alex Martins told Shaq on Inside the NBA. Furthermore, the jersey retirement is set for February 13.

Read More: Shaq Bet Money On Episodes Of Maury During His NBA Career

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About The Author
Ben Mock
Benjamin Mock (they/them) is a sports and culture writer working out of Philadelphia. Previously writing for the likes of Fixture, Dexerto, Fragster, and Jaxon, Ben has dedicated themselves to engaging and accessible articles about sports, esports, and internet culture. With a love for the weirder stories, you never quite know what to expect from their work.
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