John Calipari is staying at Kentucky for a long time. Even though the Los Angles Lakers job is open. Got that Rex Chapman? The publicist of Coach Cal tweeted out back on May 1st that he was staying put. But just tonight, it was made official that Calipari signed a seven-year, $52.5 million contract extension.
And the University of Kentucky actually mailed all of us who cover the team on a regular basis a copy of John Calipari’s new contract. How’s that for transparency?
It’s 27 pages long, so I didn’t peruse the entire thing I certainly wouldn’t expect anyone else to look through the whole thing. But I did screenshot and posted “the money shot” below.
One lists John Calipari annual compensation, and the other some incentive play clauses. SEC regular season title: $50,000 SEC Tournament title: $50,000 Sweet 16: $100,000 Final Four: $175,000 Win it all: $375,000
Two days ago Alabama agreed to a contract extension with Nick Saban that will pay him $6.9 million a year for the next eight seasons. For the 2014 season, Saban’s agreement will make him of the nation’s most highly paid public employees.
John Calipari is scheduled to surpass Saban’s basic compensation total in the second season of his new deal. Calipari’s total compensation from the school will rise to $7 milllion, from the $6.5 million he will get for the 2014-15 campaign. Under Calipari’s prior terms, he was scheduled to make $5.2 million in 2014-15.
John Calipari’s pay is set to increase to $7.25 million in 2016-17, $7.75 million in 2017-18 and then $8 million for each of the deal’s final three seasons.
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