Pike's Contract--on the bright side, his buyout is only $5.5M if another team wants to steal Pikiell from Rutgers 😉 :
salary table, which remains unchanged except for the additional year:
April 1, 2023 through March 31, 2024: $3,250,000
April 1, 2024 through March 31, 2025: $3,500,000
April 1, 2025 through March 31, 2026: $3,750,000
April 1, 2026 through March 31, 2027: $3,850,000
April 1, 2027 through March 31, 2028: $3,950,000
April 1, 2028 through March 31, 2029: $4,050,000
April 1, 2029 through March 31, 2030: $4,150,000
April 1, 2030 through March 31, 2031: $4,250,000
The new contract also has
adjusted the buyout fee should Pikiell choose to leave (one thing that remains the same: if athletics director Pat Hobbs leaves at any point, the buyout is reduced by half). Here is the new buyout table:
Termination by Head Coach between April 1, 2023 and March 31, 2024 - $15,000,000
Termination by Head Coach between April 1, 2024 and March 31, 2025 - $13,000,000
Termination by Head Coach between April 1, 2025 and March 31, 2026 - $11,000,000
Termination by Head Coach between April 1, 2026 and March 31, 2027 - $9,000,000
Termination by Head Coach between April 1, 2027 and March 31, 2028 - $7,000,000
Termination by Head Coach between April 1, 2028 and March 31, 2029 - $5,000,000
Termination by Head Coach between April 1, 2029 and March 31, 2030 - $3,000,000
Termination by Head Coach between April 1, 2030 and March 31, 2031 - $1,000,00
Steve Pikiell's work to drastically improve the Rutgers basketball program were rewarded with another contract extension. Here are those details.
www.app.com