Louisville Extends Pitino Through 2016-17

Last year the University of Louisville and men’s basketball coach Rick Pitino agreed to a contract extension through the 2016-17 season. On Tuesday the U of L Athletic Association approved the financial terms.

 The deal established Pitino’s base salary at $3 million annually and paved the way for him to receive the rest of a scheduled $3.6 million loyalty bonus in payments of $900,000 each of the next two seasons. 

 In the contract approved Tuesday, the university agreed to boost Pitino’s base salary to $3.9 million annually beginning in 2013-14, once the deferred compensation from the loyalty bonus runs out, keeping his earnings level over the remainder of his contract. 

 “We basically agreed to the terms back when we announced the deal,” athletic director Tom Jurich said, “but we wanted to fine-tune some of these things. The main thing is I want to keep him as long as he’ll stay. That is the whole key.”