KNOXVILLE, Tenn. (WATE) – UT head basketball coach Rick Barnes’ revised contract extension now makes him the third highest paid coach in NCAA college basketball.
The amendment, signed following his decision to stay with the University of Tennessee despite an offer from UCLA, will pay him $4.45 million in supplemental pay for the contract year of May 2019 to May 2020 with yearly increases up to $5.45 million for the 2023-24 season.
Those numbers do not include his base pay.
A previous contract extension signed in September 2018 paid the coach $3.25 million a year.
Barnes’ amended contract also raises bonuses for Winning the NCAA title to $1.5 million; appearing in the title game to $1.2 million; appearing in the Final Four to $1 million; appearing in the Elite Eight to $800,000; appearing in the Sweet 16 to $600,000; earning the SEC Regular Season title to $400,000; and earning a Top 5 ranking in final AP poll to $400,000.
Barnes had been offered $5 million to take the head coaching job at UCLA, and was made a counteroffer by Tennessee, and was “wrestling” with the decision.
Barnes led the Volunteers to a 29-5 finish in the regular season and a school-record 19-game win stream. The Vols were ranked in the top 10 for the entire season and were ranked No. 1 for four weeks in a row. He was also named Coach of the Year by the U.S. Basketball Writers Association.
Only two coaches are higher paid than Barnes: John Calipari at $7.95 million and Mike Krzyzewski at $7.05 million.