After Mark Turgeon’s sudden departure and months of speculation, Maryland men’s basketball has finally got its new coach Kevin Willard, who agreed to a seven-year contract worth $ 29 million with an annual salary of $ 3.9 million.
Willard, who coached at Seton Hall for 12 seasons, will be Terps’ third coach in the last 33 years. The 46-year-old inherits a team that ended its first losing season since 1993.
According to a copy of the contract obtained by The Baltimore Sun through a request for public records, Willard will receive an annual base salary of $ 500,000 and $ 3.4 million in annual supplementary income.
Willard will receive an annual increase of $ 100.00 to the supplementary income between year 2 and year 7, resulting in $ 4 million in supplementary income before year 7. Willard’s contract expires on March 31, 2029.
In April 2021, Turgeon signed a $ 17 million contract extension before accepting a $ 5 million buyout in December. Turgeon’s annual base salary was higher than Willard’s when he was expected to earn $ 750,000. However, Turgeon’s annual supplementary income was $ 2.57 million in the first contract year, an increase of $ 100,000 each year until the agreement expired in 2026.
Willard’s salary of $ 3.9 million in year 1 ranks near the top of the Big Ten Conference and close to the top 10 nationally, according to a USA Today database. Michigan State coach Tom Izzo earned $ 7.9 million this season, ranking first in the league and number three in the nation. Michigan’s Juwan Howard, Illinois’ Brad Underwood and Nebraska’s Fred Hoiberg each earned $ 3.5 million, which is about 20th nationally. Meanwhile, Purdue’s Matt Painter made $ 3.2 million, Indiana’s Mike Woodson was listed at $ 3.1 million, Iowa’s Fran McCaffery earned $ 3 million and Wisconsin’s Greg Gard received $ 2.8 million.
The Sun also got the contracts of assistant coaches Tony Skinn, Grant Billmeier and David Cox. Skinn, who served as an assistant at Ohio State last year after spending three seasons working under Willard at Seton Hall, agreed to a $ 475,000 one-year deal. Billmeier, who spent 11 seasons under Willard at Seton Hall, agreed to a $ 275,000 one-year deal. Cox, who has served as head coach at Rhode Island for the past four seasons, agreed to a $ 400,000 one-year deal. Each assistant can also earn up to $ 70,000 in incentives.
Willard can earn up to $ 695,000 in performance incentives. These benchmarks are:
- Big Ten regular season champion: $ 75,000 (live) or $ 50,000 (draw)
- Big Ten Tournament Champion: $ 75,000
- NCAA Tournament Bid: $ 25,000
- 32nd Round of NCAA Tournament Performance: $ 30,000
- NCAA Tournament, Maximum Achievable: $ 400,000
- Sweet Sixteen performance: $ 75,000
- Elite Eight Performance: $ 150,000
- Final Four appearance: $ 200,000
- National Championship appearance: $ 250,000
- National Champion: $ 400,000
- Big Ten Coach of the Year, as chosen by coaches or media: $ 40,000
- National Coach of the Year, nominated by Sports Writers, AP, USA Today or Naismith: $ 50,000.
If Maryland terminates Willard’s contract for no reason, the school will continue to pay him 90% of the remaining annual guaranteed compensation.
- 2023: $ 22.95 million
- 2024: $ 19.35 million
- 2025: $ 15.66 million
- 2026: $ 11.88 million
- 2027: $ 8.01 million
- 2028: $ 4.05 million
If Willard decides to terminate his contract, he will be liable to pay the following:
- March 20, 2022-31. March 2023: $ 4.5 million
- April 1, 2023-31. March 2024: $ 2 million
- April 1, 2024-31. March 2025: $ 2 million
- April 1, 2025-31. March 2026: $ 1.5 million
- April 1, 2026-31. March 2027: $ 1.5 million
- April 1, 2027-31. March 2028: $ 1 million
- April 1, 2028-31. March 2029: No buyout
Willard will receive a monthly car ($ 2,450) and cell phone allowance ($ 120), and is eligible to receive free tickets and suites for Maryland football and basketball games.
Maryland agreed that Willard’s family (spouse and children under 18) are allowed to travel to Thanksgiving tournaments, the conference tournament, and the NCAA tournament as part of the school’s official travel company.
Willard’s reimbursement for moving expenses is up to $ 40,000 and up to six months temporary accommodation or until he secures a permanent residence.
Maryland will also provide Willard with a private flight charter for recruitment purposes.