Kellogg's three-year contract extension is official
University of Massachusetts coach Derek Kellogg’s newly signed contract extension gives the Minuteman coach considerable bump in compensation and increased incentives to be successful on the court and in the classroom.
He's guaranteed to make at least $665,000 and could reach over $800,000 if UMass is successful on the court, at the ticket window and in the classroom. The new deal, which replaces the final two seasons of the initial contract he signed in 2008, runs through April 22, 2017.
“I just appreciate the school, (athletic director) John McCutcheon, to President (Robert) Caret, Chancellor (Kumble) Subbaswamy on down making a commitment to me and the men’s basketball program,” Kellogg said. “This is a place I want to be. I want to build the men’s basketball program into a consistent winner. This is a message that UMass is serious about men’s basketball and that the program is headed in the right direction.”
Kellogg received a $35,000 raise in base salary bringing him to $250,000 per year. The bigger jump came in the section of his contract listed as “other compensation”. For speaking appearances and television and radio shows he’ll now receive $415,000 compared to $310,000 in in the 2011-12 year of his first contract.
The other compensation total can reach as high as $550,000 if he reaches certain goals (even if the total incentives value of the goals below plus the $415,000 adds up to more, his added compensation is capped at $550,000). Kellogg receives:
* $75,000 for making NCAA Tournament
* $25,000 for a final ranking of 60 or better in the Ratings Percentage Index (which compares all Division I teams based on on-court success and schedule strength)
* $25,000 for strength of schedule ranked in top 75
* $25,000 for 20 Division I wins
* $20,000 if home attendance averages over 5,500 fans per game.
* 20,000 for reaching the NIT
* $20,000 top four conference finish
* $20,000 for team academic progress rate score of over 940
* $20,000 for a graduation retention rate of 80 percent of higher
Kellogg was glad the contract emphasized academic success as well.
“That’s as important to me as the basketball stuff because the kids here should be student-athletes,” he said. “We want all of our kids to graduate and have opportunities for life after basketball.
Kellogg has additional incentives not subject to the $550,000 cap of $25,000 per round of the NCAA Tournament UMass reaches and $5,000 per round of the NIT, figures that are the same as in his previous contract.
If Kellogg leaves his position before his contract is complete he would now have to pay UMass $500,000 an increase of $200,000.
Kellogg speaks to reporters at Atlantic 10 Media Day