The University of Iowa released the contract of men’s head basketball coach Fran McCaffery Wednesday.
McCaffery is guaranteed a total first-year salary of $1,100,000, which is comprised of his $650,000 base salary as well as an outside income of $450,000 through compensation for public appearances, television and radio programming, as well as a Nike apparel and shoe contract.
According to the contract, McCaffery’s deal with Iowa is slated to run through June 30, 2016, unless terminated.
His base salary will remain the same in year two of the deal before increasing to $700,000 in year three. McCaffery’s base salary will ultimately increase to $900,000 in the contract’s sixth year.
The contract includes numerous incentives, including bonuses of $100,000 for winning the Big Ten regular season title or Tournament title. A Final Four berth is worth a $100,000 bonus as well, while a National Title would be rewarded with $150,000.
McCaffery and Athletics Director Gary Barta signed the contract on Aug. 17. University President Sally Mason signed Monday.
— by Jordan Garretson
