The full contract details of Rick Barnes’ new deal at Tennessee have finally been revealed.
Tennessee and men’s basketball head coach Rick Barnes agreed to a new contract after UCLA made a strong push to hire Barnes as their next head coach. On Friday, the full details of Barnes’ new contract with the Vols were released.
According to 247Sports, Barnes’ new deal is worth $26 million over the next five years. Barnes will be making $4.7 million for the upcoming 2019-20 season and will receive annual raises of $250,000 over the next four years, bringing his salary to $5.7 million for the 2023-24 season.
After making $4.7 million this upcoming season, Barnes will make $4.95 million in 2020-21, $5.2 million in 2021-22, $5.45 million in 2022-23, and $5.7 million in the final year of the new deal in 2023-24.
All of that is just Barnes’ base salary annually. He could make more with bonuses and incentives built into the contract.
If Tennessee wins the SEC regular season title in any season under Barnes’ new contract, he’ll be rewarded with a $400,000 bonus. Winning the SEC Tournament title will give him a $200,000 bonus.
Should the Vols win the national title, Barnes would receive a hefty $1.5 million bonus. Getting to the title game would give Barnes a $1.2 million bonus, and making it to the school’s first ever Final Four would net him a $1 million bonus.
Making the Elite Eight will give Barnes a $800,000 bonus, and an appearance in the Sweet Sixteen will earn him a $600,000 bonus. Making it to the second round will give Barnes a $400,000 bonus, and earning a bid in the 68-team field of the NCAA Tournament will reward Barnes with a $200,000 bonus.
This past season, Barnes was voted the National Coach of the Year by the Naismith voters. If he does that again or is named the National Coach of the Year by the Associated Press or US Basketball Writers Association, then he’ll earn a $250,000 bonus. Winning the AP SEC Coach of the Year like Barnes did two seasons ago will now give him a $150,00 bonus.
Along with all those postseason and award bonuses, Barnes will receive bonuses for Tennessee’s finish in the AP Poll.
If Tennessee finishes the season ranked in the top five of the AP Poll, Barnes will get a $400,000 bonus. A top-10 finish would mean he receives a $200,000 raise, and finishing the season ranked in the top 25 would net him a $100,000 bonus.
Not only that, but Barnes will be rewarded if the Vols have success in the classroom as well.
Should Tennessee earn a single-year APR score of 980 or greater, Barnes will receive a $100,000 bonus. He’ll get a $50,000 bonus if the score is in the 960-979 range.
All in all, Barnes’ new contract gives him a huge raise from his previous extension he signed last offseason. Tennessee and Barnes agreed to a new deal last offseason that paid Barnes $3.25 annually. His new deal increases that pay over $1.2 million for the upcoming season
With this new contract, Barnes would’ve been the third-highest paid head coach in college basketball last season according to the USA Today coaching salary database. His salary of $4.7 million this upcoming season would surpass Michigan State’s Tom Izzo’s $4.157 million salary for the 2018-19 season. The only coaches currently making more than Barnes under their current deals are Kentucky’s John Calipari ($9.276 million) and Duke’s Mike Krzyzewski ($7.048 million).