UM's Beilein to make $3.8M annually under new deal
Michigan coach John Beilein’s newly extended contract will come with a slight bump in pay.
Under his new rolling contract extension through the 2022-23 season that was announced Wednesday, Beilein, 65, will receive a pay raise from $3.37 million annually to $3.8 million. The contract was obtained Friday by The Detroit News via the Freedom of Information Act.
Per the terms of Beilein’s deal, he will earn a base salary of $400,000 along with $1.9 million for “university-related promotional activities, sponsorships, television, radio, internet, shoe and/or apparel sponsorships, consulting, and other services.” In separate payments, he will also receive $1.5 million annually through the university’s Supplemental Defined Contribution Retirement Plan.
Last season, Beilein was the ninth-highest paid coach in college basketball at $3.37 million and the third-highest paid coach in the Big Ten, behind Ohio State's Chris Holtmann ($7.15 million) and Michigan State's Tom Izzo ($4.36 million). The new $3.8-million mark moves Beilein up to No. 7 in the nation based on this past season's list of college basketball coaches' salaries.
Beilein's new deal went into effect June 28, and was signed by Michigan President Mark Schlissel on July 12, athletic director Warde Manuel on July 10 and Beilein on June 28. It is set to run through April 15, 2023, and it will automatically renew one additional year on April 16 "unless the University has given (Beilein) notice that the term of this agreement will not be extended."
According to the contract details, Beilein has a $3 million buyout if he's terminated this season and $2 million in 2019-2020. That figure drops by $500,000 each following season to $1.5 million in 2020-21, $1 million in 2021-22 and $500,000 in 2022-23. After that point, however, Michigan will not owe Beilein any payment in any subsequent contract year.
Conversely, if Beilein opts to leave Michigan anytime before April 15, 2023, he must provide "reasonable advance written notice of the termination of his employment" and won't be required to pay a buyout.
Beilein’s bonus structure remains unchanged from his previous extension that was signed in November 2015. He will receive $50,000 for an outright Big Ten regular-season championship and $25,000 apiece for a share of the Big Ten regular-season championship, a Big Ten tournament championship, each NCAA Tournament appearance and each win in the NCAA Tournament.
He is also granted six season tickets for football, eight season tickets for men's basketball and 10 hours of flight time per year for his personal use on a private aircraft for non-stop travel anywhere in the continental United States.
Entering his 12th season at Michigan, Beilein has guided the Wolverines to two Big Ten regular-season championships (2012 and 2014), two conference tournament titles (2017 and 2018), and two trips to the national championship game (2013 and 2018) over the past 11 seasons.
He's also the winningest coach in program history with 248 career victories and led Michigan to a single-season program-record 33 wins last season.