Richard Pitino and Minnesota agreed to a two-year contract extension over the weekend, but the details of the new deal were not available immediately. Now, the specifics have been released.
According to the Pioneer Press, Pitino’s two-year extension will keep him as the head coach of the Gophers through the 2023-24 season, meaning he’s committed to Minnesota for the next five years.
The contract will need to be approved by the University of Minnesota Board of Regents, which is scheduled to meet on May 9-10.
Pitino will have a base salary of $2 million with a new incentives structure. His buyout is also set at $2 million through April 2020 but will continue to decrease after. This marks the third time Pitino’s contract has been extended since being hired in 2013.
In six seasons, the Gophers have compiled a 112-91 record and have made two NCAA Tournament appearances and one NIT trip. After a 22-14 year this season, Pitino led Minnesota to its first March Madness win since 2013.
The Gophers have enjoyed four winning season in Pitino’s six years with the program. He guided his team to an NIT title in 2014, his first season with the program. He was also named the B1G Coach of the Year in 2017, after Minnesota finished 24-10 and earned its first NCAA Tournament berth in four years.