For the second time in as many seasons, the Florida Gators have extended the contract of two-time national championship-winning head basketball coach Billy Donovan with the parties signing a new deal in December.
According to The Gainesville Sun, which obtained the contract information through an open records request, Donovan’s revised deal runs through the 2019-20 campaign and will average $4 million per year. Florida confirmed the contract extension on Thursday.
Donovan reportedly earned $4.2 million in 2014-15, will bring home $3.9 million in 2015-16 and will see a flat salary of $4 million over each of the final four years of his new contract. (All monies not including incentives.)
Just last March, Florida announced a three-year extension for Donovan that would take him through the 2018-19 season at an average salary of $3.7 million. As negotiations are considered a mere formality between Donovan and athletic director Jeremy Foley, the extension agreed to last season was the first between the parties since 2011.
As reviewed in documents obtained by OnlyGators.com from Donovan’s 2013-14 extension, his contract combines a base salary ($220,000) with an activities agreement (the majority of his earnings), apparel deal with Nike ($225,000), annual longevity bonus ($340,000) and expense/travel account ($100,000 combined).
The Gators provide Donovan with a number of incentives in his contract including $37,500 for making the NCAA Tournament, another $37,500 for earning a Sweet 16 berth, an additional $25,000 for getting to the Final Four and another $150,000 for winning the national championship. Donovan can receive $25,000 for being named the AP SEC Coach of the Year, $25,000 for winning the SEC Tournament title, $50,000 for earning the SEC regular season crown, $50,000 for finishing in the top-10 of the final AP poll, and $50,000 for being named AP National Coach of the Year. He can also earn either an additional month’s salary for graduating 60 percent of his players or 10 percent of his annual salary if he hits an 80 percent graduation rate.
While Donovan no longer has a non-compete clause – a restriction put in place as part of his 2007 deal which kept him out of the NBA for five seasons – in his contract, he still must receive express written consent from Foley before discussing – directly or indirectly – a position with either a professional franchise or another college team.
Donovan has led Florida to five Southeastern Conference regular-season titles, four SEC Tournament Championships, four Final Fours and two NCAA Championships, appearing in the NCAA Tournament in 14 of his 19 seasons with the program.
This season, at age 49, he became the second-youngest coach in Division I college basketball history to win 500 career games, joining Bobby Knight as the second to do so before turning 50. He currently stands second all-time in total wins at an SEC school behind Adolph Rupp of Kentucky (875).
In 2014-15, Florida (16-17, 8-10 SEC) posted its worst record since 1997-98, Donovan’s second season with the team. The Gators had qualified for the postseason in 17 consecutive years under Donovan, last failing to do so during his inaugural campaign at UF in 1996-97.
Donovan, who will remain the fifth-highest paid college basketball coach in the country, stands as one of only eight coaches that has won 20+ games in 14+ consecutive seasons.