FAYETTEVILLE, Ark. — Ahead of the announcement of John Calipari as the next Razorback basketball coach, the U of A Board of Trustees approved a resolution to increase his maximum salary. Here's an in-depth look at what Calipari's contract entails.
The board meeting was announced on the evening of April 9 and scheduled for 9 a.m. on April 10 with the intention for the UA System to consider "a salary [above] line item maximum for the University of Arkansas, Fayetteville."
While rumor and conspiracies swirled online several days prior, many believed that line item maximum was in anticipation of hiring John Calipari, the seasoned former head basketball coach for the University of Kentucky, which was confirmed during the meeting by U of A Athletic Director Hunter Yurachek.
Yurachek called Calipari "one of the premier coaches in college basketball ... a national championship coach, a four-time national coach of the year, and one of the nation's top recruiters."
Calipari announced his departure from the University of Kentucky on social media on April 9.
In their press release announcing his hiring, the U of A called Calipari "the winningest active coach in men's college basketball, with a record of 855-263."
John Calipari's contract at Arkansas:
The U of A announced that Calipari signed a five-year contract with a yearly payout totaling around $7 million per season. That contract runs through April 30, 2029, with a maximum of two automatic rollover years for NCAA Tournament appearances that would extend the contract to 2031.
According to the contract, Calipari's annual salary is $500,000 a year, but on top of that he will get paid $6.5 million a year for "performance of speaking engagements, television and radio appearances, sponsorships, and all other obligations."
The funds for these payments will come from "private funds and non-taxpayer, self-generated" money from sponsorship deals.
The deal also includes a $1 million signing bonus and retention bonuses of $500,000 each year of the contract, the U of A said.
Additionally, Calipari's annual payments will go up every time he reaches certain goals:
- $50,000 if the team goes to an NCAA tournament
- $100,000 if the team goes to an NCAA tournament and makes it to the round of 32
- $250,000 if the team goes to an NCAA tournament and makes it to the Sweet Sixteen
- $350,000 if the team goes to an NCAA tournament and makes it to the Final Four
- $500,000 if the team goes to an NCAA tournament and wins the championships
According to the contract, these annual payment increases can only be applied once for each level.
Benefits:
Calipari is set to gain the following benefits as the head Razorback basketball coach:
- Tickets: Calipari will get 10 tickets to each home basketball game and five tickets to any Razorback home game of any sport
- Car or car allowance: Calipari will get two cars loaned to him by the university, but he will have to "pay expenses of the maintenance, operation, and insurance"
Name, Image, Likeness:
Calipari grants the university a "perpetual, royalty-free license to use his name, nicknames, slogans, initials, facsimile signature, voice, likeness, [and] image" in all forms of media.
Termination:
If Calipari quits to accept another coaching position, he forfeits any "unearned compensation or benefits of any nature whatsoever," and has to give the university up to $6 million.
Full contract:
Watch 5NEWS on YouTube.
Download the 5NEWS app on your smartphone:
Stream 5NEWS 24/7 on the 5+ app: How to watch the 5+ app on your streaming device
To report a typo or grammatical error, please email KFSMDigitalTeam@tegna.com and detail which story you're referring to.