Average pay for deal is over $2 million
MINNEAPOLIS — Minnesota coach Richard Pitino’s one-year extension through 2021-22 includes $1.7 million in new bonuses for staying with the program, on top of his $1.6 million base salary.
Pitino’s contract, announced without terms last week by the university, was approved Friday by the Board of Regents. He’s 75-61 in four years with the Gophers. The average annual pay for the remainder of the deal now exceeds $2 million, ninth-most among Big Ten coaches.
The contract contains no guaranteed money for the additional year covering the 2021-22 season, but Pitino gets $650,000 for keeping the job through April 30, 2022.
Other new retention bonuses are $550,000 on April 30, 2021; $250,000 on April 30, 2020; and $250,000 on Aug. 1, 2017. There’s also a previously scheduled $450,000 bonus for fulfilling the contract through April 30, 2019.