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From Woj:
The Miami Heat are progressing on completion of a multiyear contract extension for two-time championship coach Erik Spoelstra, league sources told The Vertical.

Owner Micky Arison and president Pat Riley have been eager to secure Spoelstra beyond the final year of his contract in 2016-17, assuring that one of the league’s elite coaches never reaches the free-agent market.

Spoelstra, 45, is the second-longest active tenured coach with one team, behind San Antonio’s Gregg Popovich.

Spoelstra completed his eighth season as Heat head coach, reaching the Eastern Conference semifinals before losing in a Game 7 to the Toronto Raptors. Spoelstra has won two titles, reached four Eastern Conference finals and has a 399-241 (.623) regular-season and 70-43 (.619) playoff record.
 
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