Minnesota, coach Richard Pitino agree to extension through 2021

The University of Minnesota announced a new contract for men's basketball coach Richard Pitino.
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The University of Minnesota announced a two-year contract extension for men's basketball coach Richard Pitino.

Minnesota released the details of the extension that runs through the 2020-21 season to SI.comvia email Tuesday. Pitino will now receive $1.6 million annually with an increase in supplemental compensation. The contract includes two fulfillment incentives of $450,000 if he remains at his post on April 30, 2016 and again on April 30, 2019. The new contract includes new buyout terms, with the cost of opting out decreasing each year should Pitino choose to leave.

Pitino, 32, enters his third season as Gophers head coach. He led the team to the NIT title in his first year, set a program record with 25 wins that season, and has gone 43-28 overall at the helm. Minnesota missed the postseason in 2014-15.

“I am extremely grateful for this opportunity given to me by President Kaler, Beth Goetz and the University of Minnesota,” Pitino said in a statement. “Being the basketball coach at this tremendous university is something I cherish every day. My family and I love living in the Twin Cities and we look forward to continuing to build this basketball program the right way.”

Minnesota also announced new contract terms for women's basketball coach Marlene Stollings and softball coach Jessica Allister.

“We’re excited to announce new contract agreements for Richard, Marlene and Jess,” said Goetz, the interim athletics director, in a statement. “All three are leading programs on the rise and developing their student-athletes both academically and athletically. We are proud to have them represent Gopher Athletics and the University of Minnesota and look forward to having them in maroon and gold for many years to come.” 

Former Minnesota athletic director Norwood Teague resigned this month after sexual harassment complaints were made against him by two university employees. Additional harassment claims came out against him in wake of his resignation.

MORE: Teague the subject of gender discrimination settlements in 2012

Jeremy Woo