Will Monty Williams make $98 million over the next 5 years? Understanding Pistons head coach's firing finances

On Wednesday morning, news surfaced that Monty Williams has been dismissed from his position as head coach of the Detroit Pistons. This decision comes just one year after he was given the largest contract for a coach in NBA history.

Before getting to Detroit, Williams secured a $20 million buyout from the Phoenix Suns after they removed him as coach. With the Pistons, he is set to absorb the remaining $65 million of the $78.5 million deal he inked last year.

These buyouts will not combine. Instead of making close to $98 million between his Suns buyout and Pistons contract, Williams will only make $65 million. This is what Detroit owes him and will be paid over the duration of his contract in the next five years.

According to ESPN's Adrian Wojnarowski, Pistons president of basketball operations Tajan Langdon met with Williams on Wednesday to notify him. In his one year with the franchise, he had a 14-68 record. Among the biggest lowlights of Williams' brief tenure was the Pistons' historic 28-game losing streak.

Following the removal of Monty Williams, the Pistons are now in search of a new general manager and head coach. Before this firing, the organization also removed Troy Weaver from his role as GM.

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Detroit Pistons owner speaks on firing of Monty Williams

Not long after reports emerged regarding the firing of Monty Williams, the Detroit Pistons put out a press release. In there was a statement from the team's owner Tom Gores.

Gores was persistent in his pursuit of Williams last offseason, and now made the decision to move on from him. In his statement, the longtime owner said he highly respects Williams, but the organization is moving in a new direction.

"Coaching has many dynamic challenges that emerged during a season and Monty always handled those with grace," Gores said. "However, after reviewing our performance carefully and assessing our current position as an organization, we will chart a new course moving forward."

Before joining the Pistons, Monty Williams had a successful run as coach of the Phoenix Suns. He helped change the trajectory of the franchise and helped lead it to the NBA Finals in 2021. However, the organization made the decision to move on from Williams after the 2023 season.

Between his stints with the New Orleans Hornets, Suns and Pistons, Williams has coached over 800 games. In that time, he has posted a regular-season record of 381-404 and a playoff record of 29-27.

Following two straight summers of being fired, there is no telling what is next for Williams. Due to the massive buyout he got with Detroit, he is set financially for the foreseeable future.

Given his extensive coaching experience, teams around the league might try to bring him in. The top vacancies in the league right now are with the Cleveland Cavaliers and LA Lakers.