Kansas has signed men's basketball coach Bill Self to what it is calling a lifetime contract, the school announced Friday.
The announcement comes as Kansas awaits word on possible sanctions related to an NCAA investigation into rules violations involving the program.
Self's existing deal was set to expire next March. In its place, the sides agreed to a five-year contract that automatically adds an extra year to the deal after each season. The impact is that Self is always under a five-year agreement with the school while he continues coaching.
The contract is not unique to the industry. Self's is similar to the one between Michigan State and Tom Izzo that renews every year with a seven-year term. Matt Painter of Purdue has a five-year, rolling contract.
It is unknown when a resolution in the NCAA case against Kansas will be announced. The school has been accused of multiple Level I violations and lack of institutional control. Self has been cited for responsibility.
The NCAA sent notice of allegations in 2019. That was two years after an FBI investigation into college basketball was revealed. Adidas, a sponsor of Kansas, was alleged to be paying players to attend affiliated schools. Kansas has vowed to fight the charges.
DATABASE: See NCAA men's Division I college coaches pay
UCLA: Jaime Jáquez Jr. 'making two countries proud'
Kansas Jayhawks head coach Bill Self directs his team on a play against the Oklahoma Sooners during the first half at Lloyd Noble Center. (Photo: Alonzo Adams, USA TODAY Sports)
The yearly compensation of Self's new deal is $5.41 million, which includes an annual retention payment of $2.435 million. He also is receiving $240,000 per year for personal private jet travel.
The contract states Self cannot be fired with cause for violations that occurred before this new deal, meaning whatever penalties given the program by the NCAA will have no bearing on his contract status.
If the school fires Self without cause, he is due one year's compensation plus the amortized amount of the annual retention bonus dating to the date of the contract and date of the termination. The payout, then, could be anywhere between $5.41 million and $7.845 million.
Self just completed his 18th year with the Jayhawks, who were knocked out of the tournament in the second round by Southern California. He has won 522 games at the school with one national title in 2008 and two other Final Four appearances.
"Every day, I am reminded just how fortunate I am to lead this storied program and there truly is no place else I would rather be." Self said in a statement. "As we continue to work through the challenges facing our program, we look forward to moving ahead and focusing on our bright future."
Contributing: Steve Berkowitz
Source: Read Full Article