BREAKING: Extension for UCONN’s Auriemma

University of Connecticut head women’s basketball coach Geno Auriemma has signed a new five-year contract with the school that will run through the 2017-18 season.

Auriemma will receive a base salary of $400,000 for each year on the contract, which runs from April 15 to April 14 of each year. In 2013-14, he will receive $1,550,000 for institutional speaking engagements and media related appearances for a total of $1,950,000. The payment for institutional speaking engagements will increase by $110,000 each year, except in the final year when it will increase by $120,000.

Auriemma’s total compensation for each year of the contract will be: 2013-14-$1,950,000; 2014-15-$2,060,000; 2015-16-$2,170,000; 2016-17-$2,280,000; 2017-18-$2,400,000.

Auriemma will receive the following payments for postseason performance (all determined by base salary): a half-month for winning a conference regular season championship; a half-month for winning a conference tournament championship; one month for participating in the NCAA tournament; one month for participating in the NCAA Sweet 16; one month for participating in the NCAA Final Four; and two months for winning the NCAA national championship.

Auriemma will receive a half-month for winning a national coach of the year award and one-quarter month for winning a conference coach of the year award. If he wins both, he will receive one payment of half a month.

If Auriemma resigns or retires from the University in good standing following the completion of the new contract in 2017-18, he will be entitled to a payment of $1,000,000 or an appointment at the University for up to five years at a salary of $300,000 with duties as determined by the Director of Athletics.

Here’s a PDF of the official contract: http://grfx.cstv.com/photos/schools/conn/sports/w-baskbl/aut…