Calipari Cashes in Big on Razorbacks’ Tournament Success
Arkansas’ first-year coach earns substantial salary increase for life of UA contract.
While Arkansas fans were blessed with the excitement and joy of watching their beloved Razorbacks play in the NCAA Tournament, John Calipari received a more tangible reward.
It wasn’t the satisfaction of leading the Hogs into the Big Dance after a shockingly disappointing start to the SEC season, although he surely relished that accomplishment.
What Calipari got was something the rest of us can only dream about. In fact, it’s beyond the wildest dreams of most.
What Arkansas’ first-year basketball coach received — OK, he earned it, as specified in the contract — was a $250,000 salary increase for reaching the Sweet 16.
That occurred when the Razorbacks upset No. 2 seed St. John’s and its Hall of Fame coach, Rick Pitino in the NCAA Tournament’s second round.
That cool quarter-of-a-million dollar raise is for the length of his five-year contract with the University of Arkansas, which was automatically extended to a sixth year because the Razorbacks played in the NCAA Tournament.
Oh, and if he reaches the Sweet 16 next season, another $250 grand would be added to his contract, again for the length of the agreement.
There are limits, because Arkansas’ flagship university has good attorneys and accountants just like the high-dollar coaches they hire.
But the Hogs’ Athletics Director, Hunter Yurachek, was determined to land Calipari, the biggest fish available from the coaching pool. We should actually call it the coaches’ transfer portal.
Calipari’s initial deal was for $7 million per year, although the $1 million “signing bonus” bumped his first go-round up to a crazy $8 million.
And yet, there’s more. Coach Cal has $500,000 retention bonuses in his contract that trigger at the beginning of each year.
Only two extensions can occur for simply reaching the 68-team NCAA Tournament. And, there’s a cap of $1.25 million that can be added to his salary for the lifetime of the contract for reaching those March Madness objectives.
Unless, of course, Calipari is given a new deal worth even more, which would likely occur if he wins a national title while guiding the Hogs.
Here’s how the salary increase breaks down for NCAA incentives, with only the highest qualifying number added to his salary for the following season:
* $50,000 for playing in the NCAA Tournament.
* $100,000 for reaching the round of 32.
* $250,000 for reaching the Sweet 16.
* $350,000 for reaching the Final Four.
* $500,000 for winning the national title.
Just give me that last number and we’ll call it a day. I’ll invest in a few more stocks, mosey off into the sunset, and spend the rest of my days traveling with my lovely wife. Ah, perchance to dream, Hamlet said.
Every Arkansas fan was excited by the late-season surge that got the Hogs on the bubble, then past the bubble, to earn a much-deserved invitation to the Big Dance. Cha-ching, said Calipari’s accountant.
When the Hogs played well in their opening game in Providence, R.I., it was enough to cash in that second “bonus” making the pot worth $100k. Cha-ching!
Then the vastly improved Razorbacks eliminated the St. John’s Red Storm and Pitino, their perturbed coach, to punch their ticket to the Sweet 16 in San Francisco.
My goodness, said the accountant, that was enough extra cash to buy a closet-full of red or semi-red jackets of various patterns and styles.
Oh, and there’d be enough left over for a bunch of high-priced vacations to the French Riviera or wherever Calipari chooses.
Razorback rooters can only fantasize about adventures like that. Those are the same hard-working folks who blanket Arkansas, where most recent government numbers show median earnings were $58,700.
They’re the same people who buy tickets at Walton Arena, spend money to park, and spend more on concessions.
Meanwhile, Calipari made a whole lot more for beating coach Bill Self and the Kansas Jayhawks than many Arkansas fans earn in an entire year.
Of course, any of us could’ve pursued a coaching career, and taken our shot at climbing to the highest level.
Calipari didn’t get into coaching for the money. Back when he started at the bottom of the totem pole at Kansas in 1982, coaches’ salaries didn’t remotely compare to today’s standards.
So, the intent is not to begrudge the man for depositing a hefty paycheck. If we ignore the half-a-million retention bonus, Calipari only got a 3.5% raise. That’s probably less than you and me.
