College Basketball

Tennessee Basketball Coach Rick Barnes Contract, Salary, Buyout, Net Worth & March Madness Incentives

rick barnes

Rick Barnes, the legendary Tennessee Volunteers men’s basketball coach, has been at the helm since 2015. Before joining Tennessee, Barnes enjoyed successful stints at Clemson and Texas, where he built his reputation as a top-tier coach. Since arriving in Knoxville, Barnes has led the Volunteers to the NCAA Tournament in five of the last six years, including a Sweet 16 appearance in 2018/19 and again this year. The team also won the SEC Tournament in 2021/22. With such success, let’s dive into the details of Rick Barnes’ contract, salary, buyout, net worth, and March Madness incentives.

Rick Barnes’ Contract and Salary

In March 2022, Barnes inked a new deal that will see him coaching the Vols through the 2026/27 season. His salary for the 2022/23 season is an impressive $5.45 million, placing him among the highest-paid coaches in college basketball. This lucrative contract reflects the university’s faith in Barnes’ ability to lead the team to continued success on the court.

March Madness Incentives

Barnes’ contract contains incentives for numerous on-court achievements, including March Madness wins. In fact, his contract is heavily incentivized toward March Madness victories. Here’s how his NCAA Tournament incentives break down (he will earn the greater of the below figures):

  • National title win: $1.5 million
  • National title game appearance: $1.2 million
  • Final Four appearance: $1 million
  • Elite Eight appearance: $800,000
  • Sweet Sixteen appearance: $600,000
  • Second round appearance: $400,000
  • NCAA Tournament bid: $200,000

With his place in the Sweet Sixteen already secured, Barnes has earned $600,000 in the tournament so far.

Moreover, Barnes can earn additional bonuses for conference championships, coaching awards, and Tennessee’s finish in the AP Poll:

  • SEC regular season title: $400,000
  • SEC Tournament title: $200,000
  • National Coach of the Year (Naismith, AP, or USBWA): $250,000
  • AP SEC Coach of the Year: $150,000
  • Top five AP Poll finish: $400,000 bonus
  • Top 10 AP Poll finish: $200,000 bonus
  • Top 25 AP Poll finish: $100,000 bonus

With Tennesse ranked 20th in the AP poll, his SEC tournament win and his team’s place in the Sweet Sixteen, Barness has already earned $900,000 in bonuses this year. Furthermore, he could still earn a whopping $900,000 extra in the NCAA tournament.

Barnes also receives bonuses for academic success:

  • APR score of 980+: $100,000
  • APR between 960-979: $50,000

Rick Barnes’ Buyout

With Barnes’ buyout at a staggering $23.85 million, it’s clear that Tennessee is committed to their coach for the foreseeable future. This massive buyout ensures that the university and Barnes will continue working together, fostering a stable and successful basketball program.

The buyout in Barnes’ contract serves as a strong deterrent for Tennessee to part ways with their coach prematurely. This significant financial obligation emphasizes the university’s long-term commitment to Barnes, and it ensures that both parties will work together to achieve sustained success for the program.

Rick Barnes’ Net Worth

Rick Barnes’ net worth is estimated to be around $20 million. This substantial figure is a result of his successful coaching career, which has spanned over three decades at schools like George Mason, Providence, Clemson, Texas, and now Tennessee. Over the years, Barnes has signed several lucrative contracts that have contributed to his growing net worth.

Rick Barnes’ impressive contract, salary, and incentives are a testament to his coaching prowess and success with the Tennessee Volunteers. As he continues to lead the team to new heights, fans and players alike can look forward to a bright few years ahead with Barnes at the helm.

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