Doc Rivers' new five-year contract to be president and coach of the Los Angeles Clippers is worth more than $50 million, league sources told Yahoo Sports.
New Clippers owner Steve Ballmer announced Rivers' extension on Wednesday. The team replaced the remaining two years on his original three-year, $21 million deal with a new contract that runs through the 2018-19 season.
Ballmer and Rivers had been eager to forge a long-term partnership since Ballmer purchased the Clippers from the Sterling family for $2 billion.
Through the release of the Donald Sterling audio tapes that led to his banishment by NBA Commissioner Adam Silver, Rivers became a pivotal figure in holding together the franchise's value and keeping the team moving forward through the crisis.
After a 57-victory regular season, the Clippers reached the Western Conference semifinals, and return a roster expected to compete for a chance to reach the NBA Finals next season. Rivers won the 2008 NBA championship as coach of the Boston Celtics, and reached the NBA Finals again in 2010.