The University of Louisville Athletic Association board has approved a one-year, $800,000 contract for Cardinals Acting Head Basketball Coach David Padgett in their meeting this morning. Padgett will receive a $400,000 base salary, and will earn an additional $400,000 from appearances. Other incentives that he could earn include:

• $25,000 if the team finishes the regular season ranked in the top 20 in either the AP or USA Today poll
• $25,000 if the team advances to the Sweet 16
• $50,000 if the team advances to the Final Four
• $50,000 if the team wins the National Championship
• $25,000 if the team GPA for scholarship athletes is between 2.75-2.99
• $50,000 if the team GPA for scholarship athletes is 3.00 or higher