Monday, June 27, 2011
John Calipari signs new eight-year contract
After leading the University of Kentucky men’s basketball team to the Final Four for the first time since 1998, head coach John Calipari has been awarded an eight-year, $36.5 million contract, UK announced Monday.
“I’m excited to be the coach and humbled by the position,” said Calipari during the Southeastern Conference’s basketball coaches teleconference Monday. “Now that I’m there for two years seeing what all it entails as far as this state and what it means for the people throughout this state. I’m excited about it.”
Calipari’s performance on and off the court was not lost on his bosses.
“What John Calipari has done on and off the court in the past two years to reunite and rejuvenate this fan base has been magical,” said UK Athletic Director Mitch Barnhart in a news release. “He understands the responsibility that goes along with this position and there is no other coach out there that is a better fit for the best basketball program in the country.”
“Coach Calipari has led a remarkable turnaround of our basketball program, bringing it back to unquestioned national prominence and in a position to compete for championships on a regular basis,” said UK President Dr. Lee T. Todd, Jr. in the release. “Aligning his contract with that of Mitch Barnhart creates the potential for long-term continuity in an athletics program that is performing and winning both on the court and in the classroom.”
In two seasons at UK, Calipari has led the Wildcats to a 64-12 (.889) overall mark. Calipari is a perfect 33-0 in home games during his two seasons at UK.
The new contract will expire after the 2018-19 season. In addition to the $36.5 million guaranteed compensation over the life of the deal, Calipari can earn incentives for winning the Southeastern Conference regular season championship, winning the SEC tournament, reaching the NCAA tournament, reaching the Sweet 16, reaching the Elite 8, reaching the Final Four, wining the national championship and achieving a team APR score of 950. Calipari can earn a total of $850,000 in incentives each year.
The new contract will expire just after Calipari’s 60th birthday, leading to question about whether this might be his last deal before retirement.
“I’m not coaching into my 70s, I’ve said that throughout my career,” Calipari said during the teleconference. “I’m not going to have my win-loss record on my tombstone.”
Photo from UK Athletics.
You can view Calipari’s new contract, and a summary of his per-season salary and incentives below.
Calipari Contract with Amendment
Calipari Contract Details