Rick Carlisle and the Mavericks have come to terms on a new deal, which will mean that the Dallas head coach will stay on at the helm even with the impending exit of Dirk Nowitzki.

According to sources, Carlisle was given a new five-year deal worth $35 million, which will take effect starting with the 2017-18 season. The new deal makes Carlisle the highest paid coach with a dual executive role as he looks forward to a second decade with the Mavericks franchise.

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Carlisle was grateful with the trust and new opportunity, releasing a statement thanking the organization for its faith and trust.

"Mark Cuban, Donnie Nelson and Dirk Nowitzki are the reason an extension like this is possible," he said via Dallas Morning News. "I have best owner and general manager in sports, and one of the greatest players in NBA history to thank for this opportunity. There is much work to be done as we move forward,"

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The Mavs and Carlisle were already busy negotiation for a new pact as early as Oct. 26. At that time, he just surpassed former coach Don Nelson as the winningest coach in franchise history and the new contract is perhaps the icing on the cake.

Carlisle started to carve a name for himself as a head coach way back in 2001 with the Pistons. Two years later, he took on the head coaching duties for the Pacers, where he stayed until 2007.

Carlisle joined the Mavericks in 2008, replacing erstwhile head coach Avery Johnson with a four-year deal. He is also the man behind the first and only NBA title for Dallas, which came in 2011 when the Mavericks defeated the Heat 4-2 in the NBA Finals.

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