John Calipari Extension: Kentucky Retains Basketball Coach for Seven Years, $52.5 Million
ByThe University of Kentucky (UK) has inked head basketball coach John Calipari to a seven-year contract extension that will pay him $52.5 million in total.
According to ESPN, the contract only has a base salary of $400,000 but will make millions of dollars in retention bonuses and media/endorsements. Calipari is known for recruiting top-tier freshmen talent and this year, he took his young squad to the National Championship game despite entering the tournament as a seven-seed.
His contract breakdown year by year:
2014-15: $6.5 million
2015-16: $7 million
2016-17: $7.25 million
2017-18: $7.75 million
2018-19: $8 million
2019-20: $8 million
2020-21: $8 million
"I'd like to thank Mitch (Barnhart) and Dr. Capilouto for their commitment to me, my family and the basketball staff," Calipari said in the team's official announcement on their website. "I've said over and over that I have the best job in the country. With the continued support from our administration and the greatest, craziest fans in college basketball, we have accomplished a lot in our five quick years, but we still have lofty goals for the future. We want to continue to help young people and their families reach their dreams, while at the same time maintaining our success on the basketball court, in the classroom and in the community."
Adam Zagoria, an insider for NBA.com, reported Calipari's contract does not have a buyout, meaning the only way for him to collect all the money is if he stays at Kentucky to the end. If he were to be fired or have his contract restructured, he would not collect the remaining money.
Calipari, accompanied by Kansas head basketball coach Bill Self, recently told ESPN's Andy Katz he was not interested in leaving the college game. Both coaches were rumored targets of teams like the Los Angeles Lakers and New York Knicks, but neither coach said they had received calls regarding an NBA job.
Calipari is now the second-highest paid coach in college basketball, second only to Duke's Mike Krzyzewski, a sure-fire Hall of Famer.