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Details on John Calipari’s new contract and future ambassador role

Cal already has a job lined up for after his coaching career.

NCAA Basketball: NCAA Tournament-Jacksonville Practice Matt Stamey-USA TODAY Sports

All rumors of John Calipari leaving Kentucky for the NBA or another college gig can be put to rest.

Thursday, the University of Kentucky announced coach Calipari signed a lifetime deal worth $86 million. His base salary will be $400,000 per season from the university.

After six seasons, Calipari will have the option to step down as head coach and become a special assistant to the athletics director/university representative. This position would pay him $950,000.

The only incentive included in Calipari’s new contract remains the performance of the men’s basketball team in the Academic Progress Rate. The bonus will remain unchanged at $50,000 from the previous contract for meeting the threshold of 975.

This contract is a victory for all sides. Calipari gets a big payday and permanent job security while Kentucky holds onto a coach that has led the program to a national championship, four Final Four appearances, five SEC regular season titles, six conference tournament championships and has coached 39 players in his time at Kentucky selected in the NBA Draft.

Today’s a great day to be a Kentucky Wildcat, as there should never again be worries of losing one of the greatest coaches in college basketball history.

Go here for more details on the deal.