Coming off a 25-7 season that ended with the Razorbacks’ first Elite 8 appearance since 1995, second-year head coach Eric Musselman has inked a deal extending his contract with Arkansas.
Arkansas athletics director Hunter Yurachek teased the move on Twitter late Monday night.
Entering the 2020-21 season, Musselman was tied with Will Wade at the bottom of the SEC making $2.5 million a year on a heavily incentive-based, 5-year first contract with the Hogs.
His salary would’ve have automatically been boosted by $250,000 for making the tournament and Sweet 16, but going beyond that, Arkansas has now pushed to make him one of the top-paid SEC coaches with the new extension and salary bump.
The new five–year agreement will run from May 1, 2021 to April 30, 2026 and includes the potential for a pair of one-year automatic agreement extensions (2027, 2028) based on Arkansas receiving bids to the NCAA Men’s Basketball Tournament within the timeframe of the agreement.
“As I mentioned during the course of what was a memorable men’s basketball season, the best way for any head coach to advocate for themselves and their program is to win games,” Vice Chancellor and Director of Athletics Hunter Yurachek said. “Coach Musselman earned this opportunity based on the tremendous progress that he and his coaching staff have made in the past two seasons, culminating with the most exciting season in the recent history of Razorback Basketball. Based on our ongoing dialogue, it is clear to me, Coach Musselman and I both share a desire to work together to ensure he remains the head men’s basketball coach at the University of Arkansas for the foreseeable future. I’m excited for the future of Razorback Basketball and look forward to seeing our program continue to progress under Coach Musselman’s leadership.”
Under the terms of the new agreement Coach Musselman will receive $4.0 million in annual compensation, with additional compensation and incentive payments available based on success in the SEC and NCAA Tournament as well as longevity in the position.
“Arkansas is one of the premier programs in the nation and my family and I are ecstatic to be here,” Musselman said. “I am grateful for the commitment the University is making to me, my family and the future of our basketball program. I have tremendous pride in being a Razorback and it is an honor to represent the state of Arkansas. Our staff remains focused on winning basketball games and building our roster for the future. We look forward to continuing to build on the foundation we have established in our first two seasons in an effort to achieve even greater success for our program, our University and Razorback fans everywhere.”
In Musselman’s six years as a collegiate head coach, he’s gone 110-34 at Nevada and 45-19 at Arkansas, putting him in the top 10 amongst active coaches in win percentage.