Calhoun signs extension with Connecticut

STORRS, Conn., May 7 (UPI) -- Connecticut men's basketball Coach Jim Calhoun has been given a multimillion-dollar, five-year contract extension, the university said Friday.

The agreement, retroactive to last July, is good through the 2014 season and establishes Calhoun's base salary at $325,000 for 2009-10 with $25,000 increases each season.

The base salary is just a small fraction of his total compensation. The deal stipulates the coach will be paid nearly $1.7 million in the first year for speaking engagements and media-related appearances. That scale slides to $2.3 million next year, $2.7 million for the 2011-12 season and $3 million a year for the final two years of the contract. There are also performance incentives.

"I am very happy that this new contract will allow me to finish my coaching career here at UConn," Calhoun said at a news conference Friday. "This is a tremendous show of recognition and support from (Athletics Director) Jeff Hathaway and (President) Michael Hogan."

Calhoun, who turns 68 Monday, just completed his 24th season as Connecticut's head coach. The Huskies were 18-16 last season and are 575-221 under Calhoun overall. They won the NCAA tournament in 1999 and 2004. Calhoun previously coached 14 seasons at Northeastern, going 248-137. He was inducted into the Basketball Hall of Fame in 2005.

He has had health issues. Calhoun missed seven games this past season for undisclosed reasons and has had cancer three times, most recently in 2008.