Erik Spoelstra's new contract could lead to huge payday for Steve Kerr

Erik Spoelstra has reportedly signed an eight-year contract extension with the Miami Heat worth $120 million. The veteran head coach, who is widely viewed as the best in the NBA, has become synonymous with Miami during his 16-season reign. He has amassed a regular-season record of 725-506 during his tenure thus far. 

Yet, it appears that Spoelstra won't be the only one celebrating his new contract. Over on the West Coast, Golden State Warriors head coach Steve Kerr was likely jumping for joy. Like Spoelstra, Kerr is among the better coaches in the NBA and is also in the final months of his deal. 

According to Sam Amick of The Athletic, Spoelstra's new contract will give Kerr a significant building block in any potential discussions about his own extension. 

"Yet the more interesting observation relating to Spoelstra’s deal, from this vantage point, is that it will have an inevitable impact in the talks between Golden State coach Steve Kerr and owner Joe Lacob about his next deal," Amick wrote. "Before the Spoelstra contract, it was Detroit’s Monty Williams who was setting the bar so high (he signed a six-year, $72 million deal in May). But Kerr, whose contract expires after this season and who has twice as many coaching title belts as Spoelstra, has an even stronger argument for a massive payday now."

If Kerr wants to be in the best negotiating position possible, he will need to help the Warriors turn around their season. Golden State has been stuttering over the first half of the season and has a 17-19 record. Still, it's worth noting that Draymond Green has seldom been available for selection this season, and veteran stars Klay Thompson and Andrew Wiggins have struggled to find their rhythm.

Nevertheless, Kerr, a four-time champion as a head coach, will likely be heading toward a significant pay increase during the summer. It's highly unlikely Warriors owner Joe Lacob would let one of the best coaches in the world walk away in the summer. As such, Kerr will likely be negotiating his own headline-catching contract in the coming months. After a successful decade in the Bay Area, he's probably earned every penny.