Riley to Sign 4-Year Contract Today

Two months after he agreed in principle to a new 4-year contract that will make him one of the National Basketball Assn.’s highest-paid coaches, Pat Riley of the Lakers said he will sign the contract today.

“I have it right there in my bag, and I’ll sign it,” Riley said. “(Laker owner) Jerry Buss and I agreed on it a long time ago, but the other guys (lawyers) found things that needed rewording.”

According to published reports, Riley will earn a base salary of between $600,000 and $650,000. With incentive clauses, he can earn as much as $900,000. Riley reportedly will become the No. 2 NBA coach in earnings, behind San Antonio’s Larry Brown.

“I’m happy with the contract,” Riley said. “I was happy with it back in October when we agreed on it.”