April 15th 2003: Knicks extend Don Chaney’s contract
After the Knicks went 37-45 during the 2002-03 season, GM Scott Layden gave Don Chaney a 3 year contract extension worth $7 million. Chaney had a record of 57-88 through his 1.5 seasons as head coach of the Knicks. Despite losing Antonio McDyess for the entire season, Chaney squeezed 37 wins out of a roster that was largely unathletic, old, and heavily dependent on Allan Houston’s production.
Unfortunately, the extension proved to be premature. After the Knicks started the 2003-04 season slow, the team fired Scott Layden & hired Isiah Thomas as the new GM. A month later, Isiah fired Chaney with more than 2 years left on his new contract. Fortunately, James Dolan didn’t seem to care much about paying former employees.