Current:Home > MyJohn Calipari's Arkansas contract details salary, bonuses for men's basketball coach -MarketLink
John Calipari's Arkansas contract details salary, bonuses for men's basketball coach
View
Date:2025-04-16 01:18:50
John Calipari is becoming the University of Arkansas’ men’s basketball coach under a five-year contract that starts with a scheduled value of $38 million, according to a copy of the agreement obtained on Wednesday by the USA TODAY Network.
However, the deal will be automatically extended and Calipari’s pay will increase if the Razorbacks play in the NCAA Tournament.
Calipari announced on Tuesday that he was leaving the University of Kentucky after 15 seasons and a 410-122 record that including one NCAA championship and four Final Four appearances. He left behind a contract under which he was set to have basic annual compensation of $8.5 million for the 2024-25 season and $9 million for each the next four seasons.
John Calipari's Arkansas contract
The contract with Arkansas starts with Calipari set for basic annual compensation of $7 million, plus $500,000 retention payments that he would receive annually, beginning June 30, 2025. He also is scheduled to receive a $1 million signing bonus May 1. So, he is set to receive $8 million for his first year.
FOLLOW THE MADNESS: NCAA basketball bracket, scores, schedules, teams and more.
If Calipari is fired without cause, he would be owed 75% of the remaining annual compensation left on the deal, not including the retention payments. Calipari would “not have an affirmative duty to mitigate" the buyout by finding another job, but Arkansas would be entitled to reduce its payments to Calipari by the amount of any subsequent “athletics-related” income he may have.
If Calipari terminates the contract to accept another coaching job, he would owe Arkansas $6 million. If he terminates the deal within a year, except for medical reasons, he also would have to repay the $1 million signing bonus.
However, the agreement states that Calipari cannot "seek or accept employment in any coaching capacity" with any other Southeastern Conference school for the entirety of the contract term, including any extensions, regardless of whether Calipari remains with Arkansas during that period of time.
Possible extension and pay increases for John Calipari
As for the automatic extensions and pay increases based that would take effect if Calipari leads the Razorbacks to the NCAA Tournament:
▶The contract would automatically extend by one year for each tournament appearance, with a maximum of two such extensions allowed.
▶If the team plays in the tournament, Calipari's pay for the following season and subsequent seasons would increase by the best one of:
--$50,000 if the team plays in the tournament
--$100,000 if it reaches the round of 32
--$250,000 if it recahes the round of 16
--$350,000 if it reaches the Final Four
--$500,000 it it wins the championship
Calipari will be able to get no more than a total of $1.25 million in these increases over the life of the contract.
The agreement has no provisions for Calipari to receive annual lump-sum bonuses. His contract with Kentucky included only one such bonus: $50,000 based on the team's NCAA annual Academic Progress Rate score.
Contributing: Jackson Fuller, the (Fort Smith, Ark.) Southwest Times Record
veryGood! (5936)
Related
- Bodycam footage shows high
- 5 Super Bowl ads I'd like to see (but won't) to bridge America's deep political divisions
- Jay-Z, Blue Ivy and Rumi Carter Run This Town in Rare Public Appearance at Super Bowl 2024
- How a Climate Group That Has Made Chaos Its Brand Got the White House’s Ear
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- The Wicked Behind-the-Scenes Drama of the Original Charmed: Feuds, Firings and Feminist Fury
- High profile women stand out on the 2024 Rock & Roll Hall of Fame shortlist
- Trump questions absence of Haley's deployed husband from campaign trail
- 'Most Whopper
- Usher's Super Bowl Halftime show was chaotic but cemented his R&B legacy
Ranking
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Valerie Bertinelli ditched the scale after being 'considered overweight' at 150 pounds
- Taylor Swift Arrives in Las Vegas to Cheer on Travis Kelce at Super Bowl 2024
- How much does a Super Bowl commercial cost in 2024? 30-second ad prices through history
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Republicans have a plan to take the Senate. A hard-right Montana lawmaker could crash the party
- Biden’s legal team went to Justice Dept. over what they viewed as unnecessary digs at his memory
- Huddle Up to See Olivia Culpo and Christian McCaffrey's Cute Couple Photos
Recommendation
Rylee Arnold Shares a Long
Nicaragua’s crackdown on Catholic Church spreads fear among the faithful, there and in exile
Body of famed Tennessee sheriff's wife exhumed 57 years after her cold case murder
Kim Kardashian and Odell Beckham Jr. Spotted Together in Las Vegas Before Super Bowl
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
Adele Defends Taylor Swift From Critical NFL Fans Ahead of Super Bowl
House sets second Mayorkas impeachment vote for Tuesday
It's happening! Taylor Swift arrives at Super Bowl 58 to support boyfriend Travis Kelce