The Tennessee Athletic Department extended the current contracts of nine UT coaches Tuesday, including head basketball coach Rick Barnes.
Tennessee Director of Athletics Danny White extended Barnes’ contract by two years, now running through April 15, 2026.
Barnes will receive the same salary that was agreed upon in his last contract extension in April of 2019 when UCLA tried to poach the Vols’ head coach following a 30-win season and a Sweet 16 run.
That contract extension paid Barnes’ $4.455 million a year with an annual $250,000 raise. For the 2021 season, the 66-year old head coach will make $4.995 million. The one change in Barnes’ extension is that after the 2024 season, Barnes’ annual raise will be $100,000 a year.
Barnes’ current contract would pay him $5.665 million in the final year of his contract, the 2025-26 season.
The six-year head coach’s 2021 salary ranks fifth nationally behind John Calipari, Mike Krzyzewski, Jay Wright and Chris Beard.
Barnes’ buyout option is mostly the same. If terminated before April 30, 2024, the university would owe Barnes’ 100% of his remaining salary. If terminated between May 1, 2024 and April 15, 2026 the university would owe Barnes’ half of his remaining salary.
The lucrative bonus structure in Barnes’ contract extension from 2019 remains the same. The Tennessee head coach will receive a $400,000 bonus for winning the SEC regular season and a $200,000 bonus for winning the SEC Tournament.
Barnes’ receives a $200,000 bonus for an appearance in the first round of the NCAA Tournament, a $400,000 bonus for reaching the second round, a $600,000 bonus for making the Sweet 16, an $800,000 bonus for making the Elite Eight, a $1 million bonus for making the Final Four, a $1.2 million bonus for making the National Championship game and a $1.5 million bonus for winning the National Championship.
A National Coach of the Year honor from the AP, Naismith or USBWA would net Barnes a $250,000 bonus while AP SEC Coach of the Year honors would earn Barnes a $150,000 bonus.
The 2019 National Coach of the Year receives a $400,000 bonus for Tennessee finishing in the top-five of the AP Poll, a $200,000 bonus for finishing in the top-10 and a $100,000 bonus for finishing in the top-25.
Academic performance bonuses include $100,000 for a single year team APR above 980 and $50,000 for a single year team APR between 960 and 980.