How Fran McCaffery can become a $2 million man
Iowa men's basketball coach Fran McCaffery is one NCAA Tournament bid from becoming a $2 million man.
According to his amended contract obtained by the Des Moines Register through a Freedom of Information Act request, McCaffery will get a $150,000 bump next season if the Hawkeyes earn a second straight NCAA bid next March. He would also get two years added to his contract, extending it through the 2021-22 season.
That $150,000 raise, and the two additional years tacked on at the end of the existing deal, is a one-time enhancement that will come any year Iowa gets an NCAA bid through the 2019-20 season. McCaffery will continue to get a $50,000 raise annually. If he gets the NCAA bonus, McCaffery stands to make $2.3 million in 2021-22.
McCaffery will make $1.8 million this season. He received a $200,000 bonus for Iowa's 2014 NCAA appearance, the first for the school since 2006. The amended contract also added a year to his previous deal, which had run through 2019-20.
The incentives in McCaffery's amended contract remain unchanged, but how he gets his $1.8 million is altered from his original contract. McCaffery's base salary has increased from $750,000 to $1,050,000. And his outside income, generated from things like public speaking, camps, radio and television and shoe/apparel deals, have increased from $550,000 to $750,000.