Salary terms, contract details revealed for new FSU Basketball head coach Luke Loucks

Loucks has signed a deal that will keep him in Tallahassee through the 2029-30 season.

Florida State’s new head basketball coach Luke Loucks introduces himself, shares his beliefs and coaching style during a press conference Monday, March 10, 2025. / Alicia Devine/Tallahassee Democrat / USA TODAY NETWORK via Imagn Images

Florida State officially announced the hiring of new men's basketball head coach Luke Loucks on March 9. Loucks is coming home to Tallahassee to lead his alma mater while taking over the reins from legendary head coach Leonard Hamilton. During Loucks' playing days in garnet and gold, he and Hamilton delivered the program's first ACC Championship in 2012.

On Tuesday, the university fulfilled a records request submitted by NoleGameday, providing the full contract details and salary terms for Loucks. The agreement was signed by Loucks, and Vice President and Director of Intercollegiate Athletics Michael Alford on Sunday morning.

READ MORE: FSU Football adds dual-threat quarterback to 2025 roster

Length Of Contract:

Loucks's contract will span five years and he will be tied to Florida State through the 2029-30 season.

The first year of the deal begins on his start date in March and will end on April 30, 2026. The second year will begin on May 1, 2026, and end on April 30, 2027. The third year will begin on May 1, 2027, and end on April 30, 2028. The fourth year will begin on May 1, 2028, and end on April 30, 2029. The fifth and final year will begin of May 1, 2029, and end on April 30, 2030.

Salary:

Loucks has signed a five-year deal that will pay him an average of $2.365 million per season, placing him slightly above Hamilton's previous average of $2.225 million.

According to the terms of the contract, Loucks will receive a $50,000 retention bonus if he's employed on June 30, 2027, and a $100,000 retention bonus if he's employed on June 30, 2029.

Loucks will start off at $2.0 million in 2025-26 and his salary will rise by $175K over the next two years of the deal, meaning he'll make $2.175 million in 2026-27 and $2.350 million in 2027-28.

In the final two years of the contract, Loucks will receive a salary increase of $200K per season. That means he'll bring in $2.550 million in 2028-29 and $2.750 million in 2029-30.

Buyout Details:

If Florida State terminates Loucks' contract without cause, the University, in conjunction with the Florida State University Athletics Association, Inc., will pay 85% of his remaining annual compensation for the remainder of the otherwise unexpired term of the formal employment contract.

The amount would be paid in equal monthly installments through the otherwise and unexpired term. Mitigation and offset terms and conditions will be consistent with the University’s
employment contracts for other head coaches.

Bonuses:

Loucks is eligible for a plethora of annual bonuses based on performance on the court and in the classroom.

Regular season:

Wins ACC regular season (or co-champion) - $100,000

20 Wins (regular season) - $50,000

Or, 21 Wins (regular season, 12 ACC wins) - $55,000

Or, 22 Wins (regular season, 12 ACC wins) - $60,000

Or, 23 Wins (regular season, 12 ACC wins) - $65,000

Or, 24 Wins (regular season, 12 ACC wins) - $70,000

Or, 25 Wins (regular season, 12 ACC wins) - $75,000

Postseason:

Wins ACC Tournament Championship - $100,000

NCAA Tournament Appearance (not NIT) - $150,000

Back-to-Back NCAA Tournament Appearances - $50,000

NCAA Top 4 Seed - $50,000

Advances to NCAA Second Round - $50,000

Or, Advances to Sweet Sixteen - $175,000

Or, Advances to Elite Eight - $200,000

Advances to the Final Four - $275,000

Advances to the National Championship Game - $175,000

Wins NCAA Championship - $500,000

Other Bonuses:

Finishes Season Ranked in Top 10 of Final USA Today Poll - $200,000

Or, Ranked in Top 20 of Final USA Today Poll - $50,000

Named AP ACC Coach of the Year - $100,000

Named AP National Coach of the Year - $150,000

GSR of 85% or higher - $25,000

APR of 960 or higher - $15,000

Miscellaneous Info:

Loucks would owe FSU a decreasing amount each year if he terminates his employment to take another job. He would owe $2.50 million prior to April 1, 2026, $1.750 million prior to April 1, 2027, $1.0 million prior to April 1, 2028, $500,000 prior to April 1, 2029, and zero dollars after that.

Florida State will provide Loucks with a staff pool of $1.7 million.

The Seminoles will also give Loucks a vehicle allowance of up to $2,000 per month, $2000 in Nike Elite Allotment, use of a suite in the Tucker Center for regular-season home men's basketball contests (F&B not included), up to five complimentary tickets to other FSU regular-season sporting events based on availability, and a cell phone.

Florida State will cover moving/transition costs up to $50,000.

Loucks will pay taxes on all applicable compensation, including but not limited to annual
compensation, allowances, and bonuses; complimentary tickets; extra room at
ACC/NCAA tournament games; ACC/NCAA gifts; athletic department gifts.

Loucks shall report directly to the Director of Athletics.

---

READ MORE: Sacramento Kings veteran big man reacts to assistant coach departing for FSU Basketball job

Stick with NoleGameday for more FREE coverage of Florida State Basketball throughout the season

Follow NoleGameday on and Twitter, Facebook, Instagram, and TikTok

More Florida State News

•  Former LSU standout gives major props to ex-FSU DE Jared Verse at NFL Combine

• FSU defensive tackle goes viral during NFL Combine 40-yard dash

• Former FSU Kicker Ryan Fitzgerald showcases accuracy at 2025 NFL Combine

• Best photos of former FSU stars Azareye'h Thomas, Joshua Farmer, and Ryan Fitzgerald at 2025 NFL Combine