Kentucky basketball releases details of coach John Calipari's new $86M contract

LEXINGTON — John Calipari's new contract could keep him as Kentucky's men's basketball coach through 2029.

The 10-year deal worth $86 million pays Calipari $8 million per year for each of the next two seasons, $8.5 million per year from July 2021 to June 2025, and $9 million per year from July 2025 to June 2029. The contract was released by UK on Thursday afternoon.

"One of the truly unique things about Kentucky men’s basketball is its legacy of head coaches who have made their own lasting mark on this program. John is a perfect illustration of that," UK athletics director Mitch Barnhart said in a news release.

Beginning with the sixth year of the contract (the 2024-25 season), Calipari has the option to step down as coach and assume a role as "special assistant to the athletic director/university representative." In that role, Calipari would be responsible for helping assist the university in fundraising and promoting the athletics department, including the men's basketball program.

Calipari's salary would drop to $950,000 per year in that position.

UK Mailbag: Basketball returner and newcomer to watch, football expectations 

Calipari's previous contract was set to expire after the 2023-24 season and paid him $8 million per year. 

Like the previous contract, the new deal does not include a buyout Calipari would owe UK if he takes another job. It does include a clause stating Calipari must inform the athletics director of other employment opportunities before negotiating with other prospective employers.

Kentucky hoops: What John Calipari, UK returnees are saying about newcomers

Jon Hale: jahale@courier-journal.com; Twitter: @JonHale_CJ. Support strong local journalism by subscribing today: courier-journal.com/jonh.