LEXINGTON, Ky. (WKYT) - Louisville athletic director Tom Jurich announced today that Rick Pitino has signed a deal that will take him through the 2022 campaign. Pitino will be 70 when it expires.
His $3.9 million base salary remains the same, but he will earn a $600,000 retention bonus every other year from 2014 to 2022.
The deal includes incentives for being chosen AP national coach of the year ($100,000) and winning the Big East Conference regular season title ($50,000).
Pitino, 60, is coming off his second Final Four appearance with the second-ranked Cardinals, who open exhibition play Thursday against NAIA Pikeville. He led rival Kentucky to the 1996 NCAA title and Providence to the 1987 Final Four.
After hinting he might not coach past his current deal, Pitino said Tuesday that he "couldn't live without the highs and lows" of basketball.
Pitino has 616 career wins in the college ranks coaching Boston University, Providence, Kentucky and Louisville. He's also been a head coach in the NBA with the New York Knicks and Boston Celtics.