AUBURN, Alabama – Bruce Pearl and Auburn have accepted a new five-year contract worth $ 19.5 million to keep him in the place of the head coach throughout the 2023-24 season.
The decision was made Friday, less than a week after the first appearance of the Tigers in the Final Four.
He will receive $ 3.8 million a year, with a growing salary of $ 125,000 every year after the 2019-2020 season, according to a source. His salary will reach $ 4.3 million in the last season (2023-24) of the contract. The University and Pearl have also shown a strong connection to stay together, since they have agreed on a heavy buyout structure that starts at $ 8 million the first year. It drops to $ 6 million in the second year, then to $ 4 million in the third year and $ 2 million in the fourth year, the source told Auburn Undercover.
The contract is expected to make Pearl the third highest-paid coach in the SEC, linking him to Texas A & M's new coach Buzz Williams. He stands behind Kentucky John Calipari ($ 9.2 million) and Tennessee Rick Barnes, who received a $ 4.7 million pay raise after flirting with a UCLA job offer this week.
"Under Bruce's leadership, our basketball program has reached new heights. Our young men continue to flourish in the classroom and in the field. We've had many firsts, including a well-documented race at the Final Four and two SEC titles, "said Auburn Sports Director Auburn. Allen Greene said in a statement. "Bruce and his wife Brandy have been very active within the University and the Auburn community and we thank them for all their hard work. Our return on investment is undeniable and the support of this program from A to Z will remain a priority. Simply put, we look forward to having Bruce as our team's head coach. basketball program for many years to come. "
Pearl earned a base salary of $ 2.6 million in the 2018-19 season, which does not include the $ 450,000 bonuses she owes at the end of May, after having led the Tigers to the Final Four while obtaining other reference bonuses in his previous contract. Some bonuses will not be included in her new contract, including 22 wins, because of increased expectations since Pearl resumed a program that had not reached the NCAA tournament for more than a decade, a source at Auburn Undercover.
Pearl also received a larger payroll for her assistant coaches, with the total for assistants increasing by $ 500,000, a source said. This figure does not appear in Pearl's new contract, but it has been discussed and agreed between the two parties.
Auburn has won 56 games in the past two seasons, including 30 school wins and one Final Four this season. The Tigers lost 63-62 to Virginia national champion, following a controversial double dribble and an offensive call on Samir Doughty on 3 point shooter Kyle Guy of Virginia with 0.6 seconds to go.
Auburn won the SEC's second tournament championship in March, following the SEC's third regular season championship. Pearl is the first coach in Auburn to amass 100 wins in her first five seasons at the helm.
"I would like to thank the President of (Auburn University) (Steven) death, Allen Greene and the board of directors for their belief. The investment in me and my staff demonstrates their support for the upcoming men's basketball program. I am happy and happy to be in Auburn and live in this wonderful community, "said Pearl.
Bruce Pearl's salary
2019-20: $ 3.8 million
2020-21: $ 3.925 million
2021-22: $ 4.05 million
2022-23: $ 4.175 million
2023-24: $ 4.3 million
2019-20 basketball wages SEC
John Calipari, Kentucky: $ 9.2 million
Rick Barnes, Tennessee: $ 4.7 million
Bruce Pearl, Auburn: $ 3.8 million
Buzz Williams, Texas A & M: $ 3.8 million
Tom Crean, Georgia: $ 3.2 million
Frank Martin, South Carolina: $ 3 million
Cuonzo Martin, Missouri: $ 2.9 million
Kermit Davis$ 2.85 million
Mike White, Florida: $ 2.7 million
Eric Musselman, Arkansas: $ 2.5 million
Will Wade, SJM *: $ 2.5 million
Nate Oats, Alabama: $ 2.462 million
Ben Howland, State of Mississippi: $ 2.2 million
Jerry Stackhouse, Vanderbilt: ???
* Note: LSU coach Will Wade is currently suspended with treatment in the middle of an investigation.
Auburn Undercover will update this story.