On Monday, the Chicago Bulls reportedly gave a four-year contract extension to head coach Tom Thibodeau. He's been successful in his two years as a head coach, and according to Adrian Wojnarowski on Twitter, he's going to be paid like it. Wojnarowski initially reported a base pay of $18 million with bonuses that could reach $20 million, but he clarified the base pay in a follow-up Tweet:
Thibodeau base salary is closer to $17.5M over four years, sources tell Y! Attainable bonuses can bring deal to $20M over course of deal.— Adrian Wojnarowski (@WojYahooNBA) October 1, 2012
The bonuses described, given Thibodeau's relative success in his first two years, likely pertain to playoff appearances and finishes within the division and conference. The Bulls finished as the top seed in the Eastern Conference over the last two seasons, and while the brass is certainly looking for them to make the jump and reach an appearance in the NBA Finals, it seems likely that the $20 million doesn't necessarily entail an NBA Championship.
Chicago lost to the Miami Heat in the conference finals in 2011, and lost in the opening round in 2012 when Derrick Rose went down with an injury. Still, the team clearly has faith in Thibodeau, given the extension and the contract numbers that have been reported.