Milwaukee Bucks coach George Karl is pondering a two-year, $14 million contract extension that would make him the highest-paid coach in professional sports.
The offer from team owner Herb Kohl also includes a 1 percent ownership in the club, which is valued at $125 million, a source with knowledge of the negotiations said Thursday. The deal was first reported by the Milwaukee Journal Sentinel.
Karl's agent said he believes Karl is on the verge of accepting.
"It's a very generous and incredible offer," agent Bret Adams said by phone from Columbus, Ohio. "George is very happy in Milwaukee and I don't think there is any organization in the league that could treat George better than he's been treated. Ultimately, it's his decision. I think he will accept the offer."
Adams said there is no deadline to decide, however.
"The negotiations have been very cordial and there is no immediate timetable to get anything signed," he said.
The deal would commit Karl to the Bucks through the 2003-04 season.
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