Runnin’ Utes coach Alex Jensen to receive $3.6 million base pay per year

Former Utah star received a six-year contract, according to reports

Former Utah Jazz assistant coach Alex Jensen. | Rob Gray-Imagn Images

New Runnin’ Utes basketball coach Alex Jensen will receive a base compensation package of $3.6 million under the terms of his six-year contract, according to media reports.

The former Utes star can make an additional $750,000 per year if he maxes out a list of incentives.

The Salt Lake Tribune and KSL.com reported details of the contract on Wednesday. The Tribune said it received a copy of the contract through a public records request.

Jensen’s six-year contract runs through March 31, 2031, the Tribune reported. He was hired on March 6 and formally introduced at a campus news conference on March 17. 

Jensen’s base compensation package of $3.6 million makes him the eighth-highest paid coach in the Big 12, according to contact details obtained by USA Today.

Jensen is set to earn $300,000 in base salary plus $2.5 million per year for various appearances, public speaking engagements and fundraising. He’ll also receive $400,000 from the Under Armour outfitter agreement and $400,000 from multimedia rights 

The school will tack on an additional $100,000 per year to the $2.5 million amount starting April 1, 2026, the Tribune reported.

His incentive package, which maxes out at $750,000 per season, will pay various amounts for accomplishments such as winning the Big 12 regular-season title, the conference tournament, and for reaching the NCAA Tournament and advancing to various rounds, according to a chart published by KSL.com

The Utes haven’t been to the NCAA Tournament since 2016. They reached the NIT last season under Craig Smith, who was fired in late February and replaced by interim head coach Josh Eilert.

Jensen, who helped lead Utah to the national championship game in 1998 under coach Rick Majerus, will receive standard university benefits such as a car, smartphone, moving expenses and 12 season tickets for men's basketball and six season tickets for football.

Jensen is finishing his current stint as assistant coach with the Dallas Mavericks until their season ends. Until then, the university will deduct his pay by 75% and he won’t be required to spend more than 10 hours per week on his obligations to the Utes, the media outlets reported.