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Tennessee and Rick Barnes signed a six-year contract with an annual base pay of $2.25 million for Barnes to coach the Vols basketball team, according to figures released by Tennessee on Tuesday.
Barnes' memorandum of understanding also features the following incentives: $50,000 for winning an SEC regular season championship, $25,000 for winning an SEC tournament championship, $50,000 for an NCAA Tournament berth, $100,000 for a Sweet Sixteen appearance, $150,000 for earning an Elite Eight berth, $250,000 for earning a Final Four berth, $500,000 for winning a national championship, $50,000 for winning Associated Press coach of the year and $25,000 for winning Associated Press SEC Coach of the Year.
Various other bonuses — including NCAA Academic Progress Rate (APR) scores — could bring Barnes' salary to nearly $3 million per season.