Mark Pope’s appointment as the University of Kentucky’s men’s basketball head coach has been accompanied by a contract rich in both financial rewards and performance-based incentives. Here are ten key details about his agreement:
1. Contract Duration and Total Value: Pope’s contract spans five years, from April 12, 2024, to March 31, 2029, totaling $27.5 million.
2. Annual Salary Structure: He will earn $5 million in the 2024-25 season, with an annual increase of $250,000, culminating in $6 million by the final year.
3. Performance-Based Incentives: Pope is eligible for bonuses, including $100,000 for an SEC regular-season championship and $50,000 for winning the SEC Tournament.
4. NCAA Tournament Achievements: Advancing in the NCAA Tournament yields additional bonuses: $50,000 for reaching the Sweet 16, $100,000 for the Elite Eight, $250,000 for a Final Four appearance, and $500,000 for winning the national championship.
5. Academic Performance Bonuses: Pope can earn $25,000 if the team’s Academic Progress Rate (APR) meets or exceeds 975 and another $25,000 if the team’s GPA is 3.0 or higher.
6. Contract Extension Clause: The contract automatically extends by one year, with a $250,000 salary increase, if Kentucky reaches the Sweet 16, provided there are no more than five years remaining on the contract.
7. Termination and Buyout Terms: If terminated without cause, Pope is entitled to 75% of the remaining contract value. Should he resign, he owes the university 33% of the remaining salary, reduced to 20% if Athletic Director Mitch Barnhart is no longer in position.
8. Additional Benefits: Pope receives two luxury vehicles or a standard university head coach vehicle stipend, 30 hours of private jet time annually for personal use, and memberships to a mutually agreed-upon private club.
9. Ticket Allotments: He is allocated 20 lower-level tickets for each home men’s basketball game, eight tickets for home football games, and 10 tickets for each away or neutral-site men’s basketball game.
10. Coaching Staff Salary Pool: The salary pool for assistant coaches is set at a level commensurate with high-level SEC programs and peer institutions, ensuring competitive compensation for his staff.
In a candid open letter to fans and the Kentucky community, Pope expressed his deep connection to the university, stating, “They know my heart bleeds blue Kentucky.” He acknowledged the high expectations, emphasizing, “We are here to win banners… Our job here and our assignment is here to win banners in the Final Four, national championships. That’s our job.”
Pope’s contract reflects a commitment to excellence both on the court and academically, aligning with the storied tradition of Kentucky basketball.
