According to a report, the Miami Heat have agreed to a record-breaking $120 million extension with head coach Erik Spoelstra

Miami Heat agree to 8-year, $120 million deal with head coach Erik Spoelstra, per ESPN report. Miami Heat head coach started out as the team’s video coordinator in 1995; almost 30 years later, he has reportedly agreed to sign one of the biggest contracts in North American sports coaching history.

Heat, Erik Spoelstra agree to record-breaking eight-year, $120 million extension: report. Heat head coach has been Miami Heat's head coach since 2008. Heat reportedly agreed to a record-setting deal worth more than $100 million to stay in South Beach.