Minnesota on Tuesday announced a two-year contract extension for Richard Pitino that will run through the 2020-21 season and includes a substantial raise.
Pitino, who completed his second season as coach of the Gophers last spring, will now make $1.6 million annually. The contract includes incentives of $450,000 if he remains at Minnesota on April 30, 2016, and April 30, 2019.
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“I am extremely grateful for this opportunity given to me by President (Eric) Kaler, (interim athletic director) Beth Goetz and the University of Minnesota,” Pitino said in a statement. “Being the basketball coach at this tremendous university is something I cherish every day. My family and I love living in the Twin Cities and we look forward to continuing to build this basketball program the right way.”
Pitino, 32, led the Gophers to the NIT title in his first season as coach, setting a program record with 25 wins. He is 43-28 overall (14-22 Big Ten) at Minnesota.