Lakers' Coach Jackson Signs Extension for Two Years, $24 Million

It's good to be Phil Jackson.

He loves Los Angeles - where he has coached the Lakers to three NBA titles - and his longtime companion is Jeanie Buss, the team owner's daughter.

Now the Hall of Fame coach has reached agreement on a two-year contract extension believed to be worth about
$24 million.

Photo of Phil Jackson by John W. McDonough/Sports Illustrated

That will keep him on the Lakers bench through the 2009-10 season and represents a raise from the three-year, $30-million deal he signed in June 2005, the richest coaching pact in U.S. pro sports history.

"I was in my 50s in the last era, I'm in my 60s in this era, and maybe I can go on into my 70s," he said last night. "But I really don't think so. "I mean, I'm losing a step as I go -- mentally and physically. Being abreast of all these kids is not an easy task. I can hardly speak their language, but I'm trying."

The 62-year-old Jackson has coached the Lakers to three championships before they lost to San Antonio in the Western Conference semifinals in 2003 and were beaten by Detroit in the NBA finals in 2004.

Even Lakers star Kobe Bryant, who has clashed with Jackson over the years, is on board.

I think it's great. He's clearly, in my opinion, the greatest coach of all time," Bryant said after Lakers beat the Denver Nuggets 127-99. "So when you can lock him in, that's always a great thing."

Jackson and former Boston Celtics coach Red Auerbach each have captured a record nine championships. Jackson led Michael Jordan's Chicago Bulls to six titles in the 1990s before taking a year off from coaching and joining the Lakers prior to the 1999-2000 season.