AZCentral.com is reporting that Arizona State head coach Bobby Hurley has signed a contract extension that will keep him in Tempe through the 2022 season. Hurley will also receive a hefty pay increase as well as upgraded retention and performance bonuses. According to the report, some of the terms of the deal include:
- On July 1, Hurley will receive a $700,000 raise, a bump that pushes the coach’s base salary to $2.1 million. Hurley also will receive a $700,000 signing bonus payable within 45 days of the extension’s approval.
- In addition, Hurley, will receive $100,000 salary bumps on July 1, 2019 and 2020.
- Hurley also is set to receive a $200,000 raise on July 1, 2021.
- Per terms of the proposed extension: Hurley would receive a $1 million bonus if he is ASU’s coach on Jan. 1, 2022. ASU also has set out prorated retention bumps should the school fire Hurley. For example: If Hurley is fired after Jan. 1, 2019 but before Jan. 1, 2020, he still would receive $250,000.
- Winning the Pac-12 regular-season title would increase his annual salary $50,000.
- Reaching the NCAA Tournament’s Sweet Sixteen would bring a $100,000 salary raise and the Final Four would increase his compensation $500,000.
- Once approved, Hurley is set to receive one-time bonuses based on how far ASU advances in the NCAA Tournament. Just making the field of 68 is worth $25,000. The bonus increases round by round — $75,000 for the Round of 32 up to $500,000 for a national championship. Unlike his existing contract, these bonuses would be cumulative with a max $1.4 million payout.
If Hurley leaves for another job:
- $3 million if Hurley terminates the contract in the first year of the five-year deal.
- $2.5 million if Hurley terminates the contract the second year.
- $2 million if Hurley terminates the contract the third year.
- $500,000 if Hurley terminates the contract the fourth year
Hurley’s Sun Devils are currently 16-5 (4-5) and ranked 25th in the nation.