It doesn’t look like Mark Stoops will be going anywhere for a long time.
Stoops is now set to make $8.6 million per season plus his $400,000 base salary which puts him at $9 million per season.
When the raise takes effect in February 2023, Stoops will be making more than men’s basketball head coach John Calipari who will make $8.5 million this season.
A press release is included in the amended contract, but news of the extension was not sent out to the media.
“We have been working on this for over a month and are glad to have it finalized,” UK Athletic Director Mitch Barnhart said in the release. “Continuity has become more and more important in today’s landscape, and make no mistake about it, the job that Coach Stoops has done is well known and highly regarded throughout the college football world.”
He continued, “This extension also recognizes what Coach Stoops has done over the past decade, with unprecedented achievements in the history of Kentucky football, and reinforces his commitment to UK as we strive for continued success in the future.”
It is also worth noting that Stoops’ buyout has been raised from $1.75 million to $4.5 million and will decrease by $500,000 every year he stays at Kentucky.
“I’m very appreciative of Dr. Capilouto and Mitch Barnhart for the relationship we have and the consistent commitment they have shown to the program,” Stoops said in the same release. “The continuity we’ve had has been crucial to our growth and is even more important as we move forward with the changes in college football.”
“As Mitch said, we’ve been working on this for a while, as I wanted to reaffirm my commitment. I’ve loved it here and am excited about our future.”
Looking at bonuses, Stoops is set to receive $500,000 for making the College Football Playoff. That becomes $650,000 if he makes the National Championship game and $800,000 if they win the National Championship.
Stoops will also receive $100,000 every season that Kentucky makes a bowl game, or $150,000 if the team wins eight games in a season.
Stoops’ name has been mentioned regularly with other Power 5 head coaching positions that are coming open. However, it looks like Stoops is staying in Lexington.