Here’s some excellent breaking news. UK just announced that John Calipari and Mark Stoops have both agreed to two-year extensions to their contracts. The amendment to Calipari’s contract extends his deal from March 30, 2022 to March 30, 2024, while the amendment to Stoops’ contract extends his deal from June 30, 2020 to June 30, 2022. Calipari will make $7.75 million for the 2017-18 season and $8 million for each season thereafter. Stoops’ contract provides for total guaranteed compensation of $3.5 million for the current year. The total increases $250,000 in each successive year, including the two years added as part of this amendment.
“John has achieved consistent championship-level performance at Kentucky,” Barnhart said. “No one in America is better suited for everything that comes with being the coach here. Not only has he attained incredible success on the court, he is also a leader in our community and in college basketball. We have been blessed to have him and Ellen here for the last eight years and we are blessed they will continue to call Kentucky home.”
“The last eight years at the University of Kentucky have been a terrific ride,” Calipari said. “This extension shows our full commitment to each other. I believe this school is the gold standard and I’m so thankful and blessed that this university has given me this opportunity at this point in my career.”
“The last four years have been a grind for Mark and his staff, but he has never wavered in his commitment to building Kentucky football into a consistent winner,” Barnhart said. “While the work isn’t close to finished, we believe Mark is the coach to take us there. We are thankful to Mark and Chantel for all they have done to this point and we look forward to our program’s bright future under his leadership.”
“I want to thank Dr. (Eli) Capilouto, Mitch Barnhart and the Board of Trustees for their continued support,” Stoops said. “When we came here, doing a rebuild in a challenging situation, I said that full support from everyone involved was imperative and we have always received that. We needed great commitment, we’ve had great commitment and we’re continuing to get great commitment.”
Interestingly, the only incentive included in Calipari’s contract is related to the Academic Progress Rate, or APR. This amendment increases the threshold for the incentive from 950 to 975 in single-year APR beginning with the 2017-18 season. The bonus will remain unchanged at $50,000.
While Calipari’s contact extension doesn’t include a raise (he was scheduled to start making $8 million/year in 2018-19 anyways), the amendment does adds a compensation review in June 2022, at which time he will sit down with the athletic director to “evaluate market conditions related to the compensation of other intercollegiate coaches.” Should they determine he’s not making enough compared to other coaches, a new amendment will be negotiated.
As for Stoops, the amendment to his contract includes an automatic extension opportunity, so that if the football team wins at least seven games in a season but no more than nine, the term of the agreement will extend one year. If the football team wins at least 10 games, the term of the agreement will extend two years. For each additional automatic extension year, the total guaranteed compensation will increase by $250,000 from the immediately preceding year. The incentives in his contract have also changed. Stoops will receive…
- $50,000 if the football team wins six games and participates in a non-SEC affiliated bowl game
- $100,000 if the football team wins six games and participates in an SEC-affiliated bowl game
- $100,000 if the football team participates in the SEC Championship Game
- $200,000 if the football team wins the SEC Championship
- $200,000 if the football team participates in a “New Year’s Six” bowl game (Rose, Sugar, Orange, Cotton, Fiesta or Peach)
- $300,000 if the football team participates in a CFP semifinal game
- $400,000 if the football team participates in the national championship game
- $500,000 if the football team wins the national championship
These incentives were already included in Stoops’ contract, but are worth mentioning:
- $250,000 for each win beginning with the seventh win of each season
- $50,000 per semester in which the team grade-point average is 2.75 or higher
If UK terminates Stoops’ contract for convenience, they will pay him 75% of the remaining guaranteed compensation on the contract. Should Stoops terminate the contract, he will pay UK $1 million. Meanwhile, should UK terminate Calipari’s contract for convenience, they will owe him $5 million.
But that’s not gonna happen. Congrats, guys.