MILWAUKEE – George Karl has a lucrative two-year contract extension from the Milwaukee Bucks awaiting his signature that includes a perk granted to just one other NBA coach: part ownership in the team.
The Milwaukee Journal Sentinel reported that sources said Karl's new deal would include a small piece – thought to be around 1 percent – of a franchise valued at more than $125 million.
Only Miami's Pat Riley, who was given partial ownership of the Heat when he signed on as president and coach, currently has stock in his team.
Sen. Herb Kohl owns 100 percent of the franchise, but apparently was willing to offer Karl a small but profitable piece of the team as an incentive to re-sign with the Bucks. With the best record in the league since Thanksgiving (34-13), the Bucks are nearing their first Central Division championship in 15 years and are all but certain to make the playoffs for the third consecutive season under Karl's leadership.
Karl, whose original four-year, $20 million deal expires after next season, would get about $14 million from the extension that would take him through the 2003-'04 season. At about $7 million per season, Karl would be the highest-paid coach or manager in professional sports.
"They've been very kind and unbelievably generous with the offer," said Karl, who could sign the extension soon. "It comes down to security vs. freedom."
Bret Adams, Karl's Ohio-based agent, declined comment when contacted Tuesday.
Karl, who turns 50 in May, has said before that he is at a stage in life where he doesn't have to coach at the NBA level. Recently divorced, with his youngest child approaching college age, Karl has said he would like to have the freedom to allow his career to take other paths.
Should he sign the extension, Karl would likely leave the NBA when it expired. The new contract would let him out of the deal early if the Bucks win the NBA championship. The deal is also expected to have an escape clause to pursue the University of North Carolina job should it re-open. He was not allowed by Kohl to interview for the opening at his alma mater last summer.
In three-plus seasons with the Bucks, Karl has a record of 107-84. He reached 100 victories quicker than any coach in franchise history. Before he arrived in 1998, the Bucks had not made the playoffs since the 1990-'91 season.
At 610-410 in 13-plus seasons, Karl is one of 17 NBA coaches to reach 600 career victories. His winning percentage, which was greatly boosted during seven highly successful seasons in Seattle, is among the top 10 in league history.
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 Milwaukee head coach George Karl on his recent contract offer from the Bucks.
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