"I have decided that I'm going to coach the term of my contract," Riley said. "That's why it's taken so long for me to make this decision. I don't want to be a 'one and done' guy every year. In conversations that I've had with Micky Arison, I have three years left on my contract and I will try to coach those out unless someone else makes a decision on me."
Riley missed 22 games this past season because hip and knee injuries that needed surgery. He returned and helped the Heat win the NBA's Southeast Division with a 44-38 record and a playoff appearance. They lost in the first round of the playoffs to the Chicago Bulls.
The previous season, Riley directed Miami to the NBA title -- his fifth. Riley has a 439-328 record as head coach of the Heat and a career record of 1,195-627 in 23 seasons that also included coaching the Los Angeles Lakers and New York Knicks.
Swim Week Miami Beach 2014 [PHOTOS]