Indiana men’s basketball coach Tom Crean received a new contract, which included a two-year extension through 2020.
IU athletic director Fred Glass announced the deal to the crowd at Assembly Hall just before the start of the season opener against Bryant on Friday.
The key terms of the new contract will include the two-year extension from six years to eight years (throughJune 20, 2020) and an increase in the average annual non-performance based compensation from approximately $2.52 million to approximately $3.16 million.
All of the annual incremental income will be paid through deferred compensation. The new contract will also add a performance bonus for team academic performance as measured by APR, GSR, and GPA worth as much as $55,000 per year. The contract will also contain increased buyout and guaranty provisions.
"Tom Crean has done an absolutely phenomenal job bringing Indiana University back to its rightful place as one of the elite basketball programs in the country," Glass said in a statement. "His energy, integrity, ability, passion, industry, vision, and commitment are unparalleled."View comments