Erik Spoelstra and the Miami Heat are finalizing a multiyear contract extension, according to sources.
Spoelstra likely staved off a bidding war next summer by choosing to re-sign with the only franchise he's ever known.
Spoelstra's new deal is expected to be made official ahead of the start of Heat camp this week.
Spoelstra, 42, is 260-134 (.660) in five seasons as Miami's coach, including three straight trips to the NBA Finals and two titles. He's 50-29 (.633) in five trips to the postseason.