The University of Arizona seeks approval from the Arizona Board of Regents for a new five-year contract for men’s basketball coach Tommy Lloyd, according to ABOR’s meeting agenda.
The board will meet on Thursday to deliberate on whether or not to re-up Lloyd’s deal through 2030.
Lloyd agreed to a five-year extension in February 2024, paying him a base salary of $4.15 million for the first year with annual increases. His salary under the new deal would start at $4.4 million in each of the first two years.
His base salary would increase by $250,000 annually starting from Year 2 to Year 3.
Additional duties compensation from public appearances in media or at promotional and advertising events remains at $700,000 annually.
Year 1: $4.4 million base salary, $700,000 additional duties Year 2: $4.4 million base salary, $700,000 additional duties Year 3: $4.65 million base salary, $700,000 additional duties Year 4: $4.9 million base salary, $700,000 additional duties Year 5: $5.15 million base salary, $700,000 additional duties
Lloyd earns an additional $200,000 annually from partnerships with Nike and Arizona Sports Enterprises.
He’s also set to receive a retention bonus of $2 million if he remains with the program and is in good standing as of April 1, 2028, or if the university fires him without cause before that date.
Further components of the agreement include new contracts or extensions for up to three assistant coaches, a facilities assessment plus an annual budget clause with the goal of remaining competitive in the Big 12 and nationally.
“U of A and Lloyd acknowledge that U of A intends to remain competitive within the upper end of the Big 12 Conference and other similarly situated A4 (Big 12, Big 10, SEC and ACC) public institutions,” the proposal says. “Each contract year, U of A agrees to work together with Lloyd to establish a budget, which will be subject to U of A approval no later than Feb. 15 of the immediately preceding contract year.
“Each budget shall include amounts regarding revenue share and other related monetary amounts not counting toward the revenue share cap.”
Lloyd has coached the Wildcats for the past four seasons, leading them to the NCAA Tournament each year.
Arizona reached the Sweet 16 this March, losing to Duke 100-93. The Wildcats previously made it to the Big 12 Tournament title game against Houston in their first season playing in a new conference, but they fell short.
The Wildcats’ roster will have a different look next year with Caleb Love, Henri Veesaar and KJ Lewis among those on the way out.
Lloyd brought in an exciting freshman class with five-star Koa Peat, four-star Dwayne Aristode and three-star Bryce James, son of LeBron James.
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