The extension will be worth more than $50 million over five years, reports Adrian Wojnarowski of Yahoo Sports.
Rivers, who is also the team’s president of basketball operations, led the Clippers to a franchise-best 57 wins and a division title in his first season in Los Angeles. The Clippers were eliminated in six games by the Oklahoma City Thunder in the Western Conference Semifinals.
Rivers, 52, spent the previous eight seasons with the Boston Celtics, leading them to two NBA Finals appearances and a championship in 2008.
‘This is an important day for this organization,” Clippers owner Steve Ballmer said. “I am excited to work with Doc for a long time as we build a championship culture that will deliver results both on and off the court."
Rivers has a career coaching record of 644-498 in 16 seasons, with the Clippers, Celtics and Orlando Magic.
- Scooby Axson