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March 27 (UPI) -- Kentucky men's basketball coach John Calipari will return in 2024-25, despite the Wildcats' recent postseason struggles, athletic director Mitch Barnhart announced on X. "As we normally do at the end of every season, coach Calipari and I have had conversations about the direction of our men's basketball program and I can confirm that he will return for his 16th season as our head coach," Barnhart wrote Tuesday night on the social media platform.
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The statement came less than a week after third-seeded Kentucky's 80-76 upset loss to No. 14 Oakland in the first round of the 2024 NCAA Division I men's basketball tournament Thursday in Pittsburgh.
The Wildcats, who went to four Final Fours and won one title under Calipari, have only one tournament win since 2019. They went 23-10 this season with what was regarded as the top freshman class in the country, including two players expected to be Top 10 selections in the 2024 NBA Draft.
On Thursday, Calipari -- known as one of the best recruiters and developers of NBA talent in college basketball -- cited potential changes to his recruiting style and said his team was overly anxious at this year's tournament.
Calipari, 65, posted a 410-123 record over his first 15 seasons at Kentucky. The Wildcats won at least 21 games 14 times and made 12 NCAA tournament appearances during that span.
He owns a 855-263 career record, when including his previous tenures at Memphis and UMass. The three-time Naismith Coach of the Year and 2015 Basketball Hall of Fame inductee is 57-22 in the NCAA tournament, with six Final Four appearances.
Kentucky signed Calipari to a 10-year, $86 million contract in 2019.
That pact included a base salary of $400,000 and an additional $8.1 million from media and endorsements this season. Calipari also can earn compensation from basketball camps and a $50,000 incentive based on his team's academic performance. He is provided with two automobiles, an expense account, tickets for university sporting events, a country club membership and additional benefits.
Calipari's contract also includes an option that allows him to step down after June 30 to become a special assistant to the athletic director/university representative. The contract states that the option should be exercised by April 15.
He would receive the same $400,000 base salary for that role, with another $550,000 from media and endorsements, in addition to other benefits.
Kentucky retained the ability to terminate Calipari's contract at any time. If the deal is ended, without cause, before Calipari decides to step down and opt in to his other role, he will receive 75% of the deal's remaining compensation, a total of about $35 million -- as of now.
Calipari is set to receive $8.1 million, annually, from media and endorsements again during the July 1, 2024, to June 30, 2025, term, in addition his base salary. His media and endorsement rate will climb to $8.6 million annually from 2025-26 through 2028-29, if he remains head coach.
