The deal could pay Kellogg upwards of $800,000 per year.
Derek Kellogg's new extension keeps him in Amherst for the next five seasons.AMHERST — The ink is finally dry on a contract extension for University of Massachusetts basketball coach Derek Kellogg.
As first reported over a month ago, the new deal keeps Kellogg at UMass through the 2016-17 season. In addition, the extension restructures the final two years of Kellogg’s existing contract (this season and next season), paying him a minimum of $665,000 and could reach over $800,000 with a successful season.
“In Derek we just have really the perfect fit for us,” UMass Athletic Director John McCutcheon said. “Not only the fact that he played here, but he’s from the area, he’s committed to getting this done the right way and making the commitment to the University. We felt we wanted to make a commitment to him to have a stable and long-term relationship.”
You can view the contract here. The details are as follows:
- $250,000 per year in base salary (compared to $215,000 in Kellogg’s first contract)
- $415,000 in “other compensation” (compared to the $315,000 he would have made in this year of his original contract)
This “other compensation” is for “various speaking and media appearances” as well as “the broadcast of any television, radio or other media programs related to the University’s men’s basketball program”
Additional bonuses are as follows, but are capped at $135,000 (bringing the “other compensation total to $550,000).
- $75,000 for an NCAA tournament berth
- $25,000 for an final season RPI of 60th or better
- $25,000 for a strength of schedule ranked 75th or better
- $25,000 for 20 Division I wins
- $20,000 for an average home attendance of over 5,500
- $20,000 for an NIT berth
- $20,000 for finishing in the top four in the conference during the regular season
- $20,000 for a team Academic Progress Rating of over 940
- $20,000 for a Graduation Success Rate of 80 percent or higher
The following bonuses are not subject to the cap:
- $25,000 for each round of the NCAA tournament
- $5,000 for each round of the NIT
- 25 percent of all men’s basketball ticket revenue over $700,000 (the school’s 2011 men’s basketball ticket revenue was $577,902)
Finally, Kellogg would owe UMass $500,000 if he leaves early. If he’s fired without legal “just cause” the University owes him the base salary ($250,000 per year) remaining on his contract.
“It’s a good indication of where the program is not just on the court, but academically and socially,” Kellogg said Thursday. “It’s a combination of a lot of things, and it was important to the fan base to know that the program was secure in the next five years.”
McCutcheon said that the academic component of the contract was an important one.
“I think it’s important to us in this program and in all of our sports,” McCutcheon said. “We’ve said that from day one, yes winning is important and being competitive is important, but we want to do it the right way and there aren’t any shortcuts.”
The terms of the contract had been agreed upon weeks ago, but the parties needed legal review and final paperwork to process before going public with the figures.
Kellogg said he does not employ an agent, and that he and UMass athletic director John McCutcheon just sat down and did the deal themselves over a couple of meetings — a relative rarity in big time college athletics these days.
“We just sat down and talked about it,” Kellogg said. “We met on it a couple times, and that was it..”
But while the negotiations were relatively smooth this time around, McCutcheon said he knows that he could be back at the table sooner rather than later if Kellogg’s teams perform on the court.
“I’m glad that we have it done, but as anybody in this business knows, you’re never totally locked up,” McCutechson said. “If we have outrageous success over the next couple years, I am sure that there will be people that would approach Derek with some pretty attractive offers that would put us right back in the conversation situation again.”
For now, though, UMass has its man.
“Where we are right now, I feel very good about it,” McCutcheon said. “I feel very good that Derek is pleased with it, I think both sides are very happy with where we are and we’re in position to keep our relationship moving forward in a very positive way.”