Dave Tippett will return as head coach of the Phoenix Coyotes.

Tippett, who has coached the team for the most successful four-year stretch in franchise history, agreed to terms of a new deal Friday morning. The deal is believed to be similar to Alain Vigneault's five-year, $10 million deal with the New York Rangers.

His contract was due to expire on June 30.

"I am thrilled to stay with the Coyotes,” Tippett said in a statement released by the team. “Don (Maloney, general manager) has done a very good job of assembling a great staff and group of players here and I like the direction we are headed. We've started to build a strong foundation and we are both looking forward to continuing to build a winning team here in the Valley and taking the next step as a first class organization.”

In four seasons under Tippett, the Coyotes have posted an impressive record of 156-96-42 and have qualified for the Stanley Cup Playoffs three times. Tippett ranks second on the franchise’s all-time wins list and his .602 points percentage is the highest of any head coach in franchise history.