UK's Calipari signs 1-year contract extension to 2022
LEXINGTON, Ky. (AP) - Kentucky coach John Calipari has signed a one-year contract extension through 2022 that will pay him a total of $54 million.
The contract was signed on May 13 and a copy was obtained Wednesday by The Associated Press through an open records request. It replaces the $52.5 million, seven-year agreement he signed last June.
Calipari's latest contract extension follows Tuesday's announcement that he wasn't interested in the coaching vacancy with the NBA's New Orleans Pelicans or any other job, adding that he's happy at Kentucky.
Already one of college basketball's highest-paid coaches, Calipari will receive $7 million next season with raises of $250,000 and $500,000 the next two years, respectively, before earning $8 million each over the final four seasons. He will earn a $1.6 million longevity bonus on July 1.