Kevin Ollie and the University of Connecticut have finalized the coach's new five-year contract, which will more than double his annual salary.
The coach of the UConn Huskies, the reigning National Champions, confirmed the new contract to ESPN Thursday. It will be worth $2.8 million a year, but various incentives could make it worth $3 million a year.
"My heart is here at UConn,'' Ollie said of his alma mater. "I want to stay invested in the student-athletes lives on and off the court. I want to be here.''
Before this past season, only one coach had ever led the UConn men's basketball team to a National Title, Jim Calhoun and he won three with the Huskies. Ollie was an assistant to Calhoun and was given a seven-month contract after the legendary coach decided to retire. Three months later, Ollie received a five-year deal for $7.5 million, which has been replaced by the new contract.
The Huskies went 32-8 this year and entered the NCAA Tournament as a seven-seed, but wound up winning the title against eighth-ranked Kentucky.
Ollie's memorable postseason run caught the attention of the NBA, as several jobs on pro teams opened up. Most notably, the Los Angeles Lakers reportedly expressed interest in Ollie, but the coach said he do no more than listen to an offer, which he said he did not receive.
Ollie has definitely not closed the door on the NBA forever and he could potentially build his stock even more in the coming years at UConn. In the summer of 2016, both LeBron James and Kevin Durant could become unrestricted free agents, if the former picks up his option for the next two seasons. Both NBA superstars have made their respect known for Ollie, who was a teammate to both not long ago.
According to the New Haven Register, Ollie's contract will not be paid for with taxpayer dollars, UConn associate director of athletics/communications Mike Enright confirmed.
"There is no pure tax money involved," he said. "Taxpayers have nothing to do with the division of athletics."
