NEW DEAL: McCaffery Signs Contract Extension

University of Iowa men’s basketball coach Fran McCaffery has signed a new contract to stay on as the the Hawkeyes head coach for the next few years. The announcement was made by UI Athletic Director Gary Barta Tuesday.

The seven year agreement guarantee’s McCaffery a minimum average of $1.66 million annually with a base salary of $1.3 million in 2012-2013. The salary moves him to the upper half of the Big Ten Conference in comparison to his colleagues.

His average compensation for the full term could climb to $1.86 million should the Hawkeyes make the 2013 NCAA Division I Men’s Basketball Tournament.  Like his previous contract, McCaffery can earn additional compensation annually based on competitive and academic benchmarks.

“Fran has revitalized our fan base, proving we can compete with any opponent at Carver-Hawkeye Arena,” Gary Barta said.

Attendance has risen in the past 2 years by more than 20 percent. McCaffery says he’s committed to improvement.