The extension adds four years to Pitino’s deal and includes $7.5 million in retention bonuses that kick in every three years beginning in 2017, reports The Courier-Journal. Pitino’s salary will jump from $4.48 million in 2015–2016 to $5.09 million in 2016–2017 and remain at that level through 2026.
Bonuses of $250,000 and $500,000 are also included if Louisville reaches academic goals and wins a national championship, respectively.
Pitino, 62, has a 368–126 record over 14 seasons at Louisville, making him the third-winningest coach in program history. The Cardinals won the 2013 NCAA tournament championship and reached the Final Four in 2005, 2012 and 2013.
Over 30 seasons coaching five different schools, Pitino has a 722–254 record. He is the first coach in NCAA history to win a national championship at two different schools and the first to reach the Final Four with three different teams.
At a press conference on Tuesday announcing the extension, Pitino joked with Louisville athletic director Tom Jurich about how he would be 73 if he coaches out the duration of his extension through the 2025–2026 season.
“When we started discussing this about six weeks ago, I started going on my fingers how old I was,” Pitino said, according to The Courier-Journal. “I said, ‘Tom, do you really think I’ll live that long?’”
- Mike Fiammetta