The Louisville Cardinals and their head coach Rick Pitino have agreed to on a contract extension for five additional years that will kick in prior to the 2017 season, and will run through the 2022 campaign.
The deal will keep Pitino’s current base salary at $3.9 million per season; however, the coach will receive a retention bonus every other year of $600,000 beginning in 2014. The extension also includes a few performance-based incentives, such as if Pitino is chosen as the Associated Press National Coach of the Year ($100,000 bonus), and if the Cardinals win the Big East Conference regular season ($50,000 bonus for each season that it occurs).
A long time veteran behind the bench, Pitino is now entering his 11th season as the Cardinals head coach; during that time, he has put together a 274-106 record while leading them to two Final Four appearances, two conference regular season titles (once in the Big East and once in Conference-USA), and four conference tournament championships (twice in the Big East and twice in Conference USA). Throughout Pitino’s 27-year collegiate head coaching career he has complied a 629-234 record and has won a National Championship in 1996 with the Kentucky Wildcats.
This season the Cardinals have been ranked highly in the initial polls by both the Associated Press and the Coaches, and the team have high expectations of reaching the Final Four yet again and possibly winning a National Title come next April. Louisville opens up their regular season on November 11 versus the Manhattan Jaspers in the friendly confines of the KFC Yum! Center.