Rick Barnes' new Tennessee basketball contract after UCLA offer raises average salary by $1.7M
Rick Barnes joined rare company among college basketball coaches Friday.
The Vols coach signed an amended five-year contract worth $26 million on April 17, days after his offer to jump to UCLA crashed when a $5 million buyout proved an issue and he remained in Knoxville.
On Friday night, UT released the details of Barnes' new deal, which bumps his annual average salary from $3.5 million to $5.2 million.
He will make $4.7 million next season, with annual raises of $250,000 to pump the salary to $5.7 million in the 2023-24 season. Only six coaches earned more than $4 million in the 2018-19 season, according to the USA TODAY coaches database.
At Tennessee, Barnes will make $4.95 million in 2020-21, $5.2 million in 2021-22, $5.45 million in 2022-23 and then $5.7 million in the 2023-24 season, which would be his ninth with the Vols.
The deal includes incentive figures, highlighted by $1.5 million for winning the national title. He would earn $1.2 million for playing in the NCAA title game, $1 million for reaching the Final Four, $800,000 for reaching the Elite Eight, $600,00 for reaching the Sweet 16, $400,00 for reaching the second round or $200,000 for reaching the tournament.
He can only earn one of the bonuses in the NCAA Tournament.
Barnes' previous two deals at Tennessee included a $50,000 bonus for winning the SEC regular-season title and $25,000 for winning the SEC Tournament. His new deal hopped those figured to $400,000 and $200,000, respectively.
Barnes can gain $250,000 for winning a national coach of the year award from the Associated Press, Naismith or U.S. Basketball Writers Association. Barnes won both the Naismith and the USBWA award last season. He can net a $150,000 bonus as the SEC coach of the year, which he won after the 2017-18 season.
Barnes also has bonuses for finishing the season ranked, which did not exist in his previous contracts. If UT finishes the season ranked in the top five by the AP, he would earn $400,000. A Top 10 finish earns him $200,000 and a Top 25 finish earns him $100,000.
His contract extension, which he signed last summer, was worth $21 million over six years. That extension paid Barnes $3.25 million in 2018-19, putting him No. 14 nationally in salary and No. 2 in the SEC behind Kentucky's John Calipari.
Barnes' salary was scheduled to increase by $100,000 each year of the deal until it reached $3.75 million in 2023-24.
Barnes signed a six-year contract worth $13.5 million to become Tennessee's head coach in April 2015. His original deal paid him $2.25 million annually, placing him No. 35 nationally among college basketball coaches entering the 2017-18. It also was 10th out of 14 SEC coaches.