New York Knicks coach Tom Thibodeau has agreed on a three-year contract extension that'll take him through the 2027-28 season, sources told ESPN on Wednesday.

Thibodeau, a two-time NBA Coach of the Year, has been at the forefront of a franchise resurgence that includes a No. 2 seed in the Eastern Conference playoffs after a 50-32 mark last season. The Knicks return a team with higher expectations and expect to compete with the Eastern Conference elite.

The Knicks have reached the conference semifinals in each of the last two seasons after winning only one playoff series between 2001 and 2022, according to ESPN Stats & Information research. Thibodeau ranks fifth in team history with 175 wins, reaching the playoffs in three of his four seasons as coach.

Under Thibodeau, the Knicks were one of four teams to rank among the top 10 in both offensive and defensive efficiency last season, according to ESPN Stats & Information. (The Boston Celtics, Oklahoma City Thunder and Denver Nuggets were the other three teams.)

Knicks president Leon Rose continues a strong summer that includes adding Mikal Bridges, keeping free agent OG Anunoby and securing Jalen Brunson and Thibodeau with extensions.

Thibodeau's hiring as Knicks head coach in 2020 was a full-circle moment in his life. Growing up in New Britain, Connecticut, his father, Thomas Sr., became a Knicks fan because Eddie Donovan -- the coach at his alma mater, St. Bonaventure University -- left the school to become coach and GM of the Knicks. Thomas Sr. introduced his son to Knicks fandom at a young age, and Thibodeau eventually served as a Knicks assistant coach under Jeff Van Gundy from 1996-2003.

The Knicks are Thibodeau's third head coaching stop in the NBA, including runs with the Chicago Bulls (2010-2015) and the Minnesota Timberwolves (2016-2019). He's 527-389 (.575) in 13 overall seasons, including 38-47 (.447) in the playoffs.