Iowa basketball announced that it had signed Ben McCollum to a six-year contract extension on Monday.
In his first season at the helm, McCollum led Iowa to 24 wins and to the Elite Eight for the first time in 39 years. Iowa athletics director Beth Goetz said last month that the university and coach McCollum were working toward finalizing a contract extension.
Monday’s news brings those efforts to the finish line.
Ben McCollum annual salary, buyout
Per the Des Moines Register’s Chad Leistikow, here’s the annual salary breakdown for coach McCollum under his contract extension:
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2026-27: $4.35 million
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2027-28: $4.45 million
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2028-29: $4.55 million
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2029-30: $4.65 million
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2030-31: $4.75 million
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2031-32: $4.85 million
McCollum’s $4.35 million salary next season is up from the $3.6 million he was set to be due. McCollum’s buyout starts at $5 million before April 1, 2027. It dips to $4 million before April 1, 2028, and then would be $2.5 million by the third year and decreased thereafter.
If Iowa fires McCollum without cause, McCollum is due 80% of the remaining contract over the first three years of the deal. After April 30, 2029, the buyout dips to 60% of the remaining contract.
Ben McCollum contract incentives, bonuses
McCollum’s incentives include $75,000 for a regular-season Big Ten championship and $50,000 for a Big Ten Tournament championship.
McCollum has a non-cumulative NCAA Tournament bonus, too:
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NCAA Tournament Invitation or First Four Win – $50,000
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NCAA Round of 32 Appearance – $75,000
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NCAA Round of 16 Appearance – $100,000
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NCAA Quarterfinals (Elite 8) Appearance – $150,000
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Final Four Appearance – $200,000
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National Championship Appearance – $300,000
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NCAA Champions – $400,000
McCollum would earn $25,000 if Iowa’s APR is .940 and above, $50,000 if Iowa’s APR is .960 and above or $75,000 if Iowa’s APR is .980 or above.
McCollum would also earn $25,000 if he is named Big Ten Coach of the Year and $50,000 if he’s recognized as National Coach of the Year (Naismith, NABC, Associated Press, USA TODAY).
McCollum’s assistant coaching salary pool also increased by $107,500 for four assistant coaches and other men’s basketball-specific staff members. The new minimum annual salary is $2,202,500.
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This article originally appeared on Hawkeyes Wire: Ben McCollum contract extension salary, buyout with Iowa basketball
