Monty Williams' contract changed salary landscape

Monty Williams, deposed today as head coach of the Pistons just 13 months after being fired by the Suns, has now earned a combined $85M in buyouts -- as well as a private thank you from the coaching fraternity.

After Williams signed his record six-year $78.5M contract last June with the Pistons, worth roughly $13M annually, he was quickly surpassed by the Heat's Erik Spoelstra ($15M a year), the Spurs' Gregg Popovich ($16M a year) and the Warriors' Steve Kerr ($17.5M a year). “His contract became the benchmark,’’ said one NBA agent today who asked to remain anonymous.

According to sources, Williams’ climb up the coaching contract ladder was an anomaly. Fired by the Suns in May 2023 due his playoff failures (the Suns lost a 2-0 series lead in the 2021 NBA Finals), Williams seemed content to take a gap year or longer to be with his family in Phoenix. But the Pistons overpaid him “more to get him out of retirement,’’ those sources said.

He had a record of 14-68 in his one season in Detroit, including a 28-game losing streak, and his career record sits at 381-404.

His buyout in Phoenix was $20M, and the reminder of his contract with the Pistons calls for roughly $65M -- raising eyebrows all over the league. Eddie Johnson, the former NBAer who now broadcasts for the Suns, posted today on X: “This is a conundrum for sure! If you are Monty Williams and you woke up to this news. Are you upset or feel like you just won the Power Ball. This is unreal.’’

The fallout in the coaching market is unclear. Mike Budenholzer, the coach who defeated Williams in the 2021 NBA Finals while with the Bucks, signed only a $10M annual contract with the Suns, the sixth highest in the league. UConn’s Danny Hurley later turned down a Lakers offer reportedly worth $11.6M annually, also less than Williams' deal. 

Sources now believe Williams’ dismissal could lead to a continued leveling off of contracts, at least in the short term. “It will until it won’t,’’ the agent said.