Kevin Ollie, who led the UConn Huskies to their fourth NCAA championship in just his second year at the helm, agreed to a five-year contract extension worth $15 million, the school announced Thursday.
The news had been previously reported by Yahoo! Sports.com.
The deal should put to rest rumors of Ollie returning to the NBA as a coach. He had been linked to the Cleveland Cavaliers and the Los Angeles Lakers.
Ollie will receive a base salary of $400,000 on an annual basis. He will also receive annual payment for public relations, consulting and media appearances. In the 2014-15 academic year, this figure will be $2,400,000 for total compensation of $2,800,000. The public relations, consulting and media appearance payments will increase by $100,000 during each year of the contract. These combined figures will then total $2,900,000 for 2015-16, $3,000,000 for 2016-17, $3,100,000 for 2017-18 and $3,200,000 in 2018-19.
Ollie will thus become the highest-paid coach in the American Athletic Conference, replacing SMU’s Larry Brown, who reportedly made $2.8 million.
“I’m very pleased that we were able to agree to a new contract and that we’ll be able to continue to build upon the success we’ve had,” Ollie said. “It’s a humbling experience to be around the UConn fans and the UConn family and to know that I am their basketball coach for the foreseeable future. I’m very proud of that. UConn is a place that I love and as I’ve told everyone throughout the season and through all the recent speculation, this is where my heart is. This is where I wanted to be.
“I’m very thankful to President Herbst and Warde Manuel for showing confidence in me and my coaching staff. It’s the student-athletes who have sacrificed to uphold the standards we have set at UConn and done such a terrific job. I’m happy and excited to be able to continue to invest in their basketball careers and their lives.”
“Kevin Ollie is the right person to lead our men’s basketball team into the future,” said UConn President Susan Herbst. “Kevin has done a remarkable job as our head coach over the past two years and also during his time as a UConn student-athlete and assistant coach. He is a person of utmost character and leadership and embodies everything we stand for here at the University of Connecticut.”
“I am very happy that Kevin Ollie will continue to direct our men’s basketball program,” said UConn Director of Athletics Warde Manuel. “It is a great day for the University of Connecticut and for Kevin. Kevin has accomplished a great deal during his first two seasons as our head coach both on and off the court and I am very excited about the future of our program.”
Ollie is also eligible for additional compensation for services and performance in the post-season. He will receive one month of base salary for winning a conference regular-season championship; one month of base salary for winning a conference post-season championship; one month of base salary for participation in the NCAA tournament; one month of base salary for participation in the NCAA Sweet 16; one month of base salary for participation in the NCAA Final Eight; one month of base salary for participation in the NCAA Final Four; and three months of base salary for winning the NCAA National Championship.
Ollie will also receive one-half month base salary for winning a conference coach of the year and/or national coach of the year.
Ollie will receive a $5,000 payment following any academic semesters when the team grade point average is 2.8 or better and a $10,000 payment for an annual APR score of 930 or better.
