Coach John Calipari is officially a Kentucky Wildcat and is now officially the highest paid coach in college basketball.
The UK Athletics Association Board of Directors approved an eight-year contract on Wednesday morning.
While Calpari's base salary is $400,000 each year, he'll receive money for broadcasting and endorsement deals. Those "extras" will increase his salary substantially. According to the University of Kentucky, Coach Calipari will earn a total of $3,700,000 during the first year; $3,800,000 each year during years two through five; $4,000,000 during the sixth year; $4,250,000 during the seventh year; and $4,500,000 during the final year.
If Coach Calipari wins SEC championships or has success in the NCAA tournament, he could receive additional performance bonuses.
All athletics expenditures – including coaches’ salaries – are paid by Kentucky’s athletic revenues. The University of Kentucky Athletics Association is totally self-funded. UK Athletics receives no tax money, state appropriations or university funding. All coaches’ salaries, and any other athletics expenses, are paid for by the athletics association. In addition, the athletics association gives over $1.2 million annually to the university for non-athletic scholarships.