Tom Izzo will get $4M bonus if he's Michigan State coach in April 2022
East Lansing – Michigan State football coach Mark Dantonio is due a contingent bonus of $4.3 million, but he’s not he only Spartans head coach who will draw a big one-time check.
Basketball coach Tom Izzo, in his contract that was signed last April, will get a $4 million bonus as long as he serves as the Michigan State coach through April 30, 2022.
Izzo’s contract, dated July 1, 2018, was approved by then-acting president Satish Udpa on March 22, 2019, as Michigan State was in the early stages of its run to Izzo’s eighth appearance in the Final Four. The Spartans had just won the Big Ten tournament championship a week after sharing its second straight regular-season championship.
The contingency bonus is the most significant change to Izzo’s contract, one that is similar to Dantonio’s bonus that kicked in on Wednesday and will be paid by the end of March.
While Dantonio has seen the football program struggle after a 2015 College Football Playoff appearance, the basketball program has been among the most consistent in the nation in Izzo’s 25 years with the Spartans. In addition to eight Final Fours and one national title under Izzo, the Spartans have won nine Big Ten regular-season championships, six conference tournament titles and have played in 22 consecutive NCAA Tournaments.
Izzo’s base salary is a fairly modest $436,727 but he also is paid $3.09 million in supplemental income. There are also plenty of performance bonuses, including $100,000 for winning the Big Ten regular-season championship, $25,000 for reaching the NCAA Tournament, $75,000 for reaching the Sweet 16, $150,000 for a Final Four appearance and $250,000 if Izzo wins his second national title.
The rolling seven-year contract also provides Izzo with an opportunity to work in the athletic department should he retire. A five-year agreement worth $250,000 per year will kick in and Izzo will perform “duties within the area of University Advancement as assigned by the University President and Athletic Director.” Izzo would not receive that position if he leaves Michigan State to take a professional coaching job or another college job.