Chicago Illinois. Chicago Bulls officials announced on Monday they have reached an agreement with their basketball coach Tom Thibodeau to a four year contract extension.
Yahoo! Sports reports Thibodeau will be paid $17.5 million dollars with incentive bonuses reaching $20 million.
Chicago Bulls general manager Gar Forman said of Thibodeau "I'm biased, but I think Tom is the best coach in the NBA. I watch his practice every day and his attention to detail is impeccable."
Thibodeau was voted NBA Coach of the Year for the National Basketball Association (NBA) for the 2011-12 basketball season.
Thibodeau said "I'm thankful to (owner) Jerry (Reinsdorf) and Gar and (Vice President of Basketball Operations) John (Paxson). I never doubted it would work out. I love being here."
The Bulls are reluctant to give their coaches big money contracts after they gave a big money to former Bulls coachto a three year $13.25 million dollar contract extension is 2006. Skiles was fired in 2007 and the Bulls owed Skiles $7 million but Skiles settled for 4 million dollars instead.
New sources The Sports Xchange and Yahoo! Sports