Doc Rivers Agrees to Five-Year Contract to Remain Celtics Coach

May 13 (Bloomberg) -- Doc Rivers agreed on a five-year contract to remain the coach of the Boston Celtics, the team said today on its website.

The team didn’t disclose the value of the contract for Rivers, who had a one-year option to return next season. The extension is worth $35 million, according to Yahoo! Sports.

Rivers coached the Celtics to a 56-26 record in his seventh season with the National Basketball Association franchise before falling to the Miami Heat in five games in the second round of the playoffs.

Boston won the NBA title in 2008 and reached the finals last season before losing to the Los Angeles Lakers.

Rivers, who also coached the Orlando Magic for four seasons and 11 games of a fifth, has a 507-406 regular-season record. He was named the NBA’s 1999-2000 coach of the year.

The 49-year-old was an NBA guard for 13 seasons, and was selected for the 1988 All-Star game.

To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net.

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net.