New NC State coach Keatts: We will be champions again

NC State introduced its new basketball coach Kevin Keatts in a ceremony in Reynolds Coliseum on Sunday, March 19, 2017.
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NC State introduced its new basketball coach Kevin Keatts in a ceremony in Reynolds Coliseum on Sunday, March 19, 2017.
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NC State

Contract details for new NC State basketball coach Kevin Keatts

By Joe Giglio

jgiglio@newsobserver.com

April 21, 2017 03:29 PM

Kevin Keatts was preaching patience at his introductory press conference for an N.C. State basketball program that went 9-27 in the ACC the past two seasons.

If Keatts can push the Wolfpack ahead of schedule, it will be worth a contract extension and extra bonuses, according to the contract he signed with the university on Thursday.

N.C. State fulfilled a Freedom of Information request from The News & Observer on Friday and provided a copy of Keatts’ contract.

Keatts’ annual compensation will be $2.2 million and breaks down to an even split of $1.1 million by base salary and supplemental income (from media and athletic apparel deals). With bonuses, Keatts made about $600,000 last season at UNC-Wilmington.

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A trip to the NCAA tournament in any of Keatts’ first three seasons would trigger an automatic one-year extension to his contract and an extra $125,000 in bonuses.

VIDEO: NC State Wolfpack new head basketball coach Kevin Keatts talks about his history of coaching winning programs during an introductory press conference at Reynolds Coliseum in Raleigh, NC, Sunday, March 19, 2017.

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Details for some of the bonuses and extensions in Keatts’ deal, which covers six seasons and runs through April 2023:

Supplemental income increase

$100,000 with an NCAA tournament appearance

$200,000 with a Sweet 16 appearance

$300,000 with an ACC regular-season title (as determined by the No. 1 seed in the ACC tournament)

$300,000 with an ACC title

$400,000 with a trip to the Final Four

$500,000 with an NCAA title

Additional bonus

$10,000 reaching the First Four of the NCAA tournament

$25,000 reaching the first round of the NCAA tournament

$50,000 being ranked in the top 25 in final AP or USA Today polls

$50,000 reaching the second round of the NCAA tournament

$100,000 reaching the Sweet 16 of the NCAA tournament

$100,000 being ranked in the top 10 in final AP or USA Today polls

$100,000 winning the ACC regular-season title (as determined by the No. 1 seed in the ACC tournament)

$100,000 winning the ACC title

$150,000 reaching the Final Eight of the NCAA tournament

$200,000 reaching the Final Four of the NCAA tournament

$250,000 reaching the championship game of the NCAA tournament

$400,000 winning the NCAA championship

The NCAA tournament bonuses are not cumulative. That means a trip to the Sweet 16 is worth $100,000, not $100,000 plus the First Four and First round bonuses.

The contract includes several academic-performance bonuses:

Federal Graduation Rate (FGR)

70 to 79 percent: $25,000

80 to 89 percent: $50,000

90 to 99 percent: $75,000

100 percent: $100,000

Graduate Success Rate (GSR)

70 to 79 percent: $25,000

80 to 89 percent: $50,000

90 to 99 percent: $75,000

100 percent: $100,000

Academic Progress Rate (APR)

970 to 979: $25,000

980 to 989: $50,000

990 to 999: $75,000

1,000: $100,000

N.C. State’s most recent academic scores were FGR (38), GSR (71) and APR (966).

Automatic contract extensions

One year:

▪  if N.C. State makes the NCAA tournament in 2018, 2019, 2020

▪  if N.C. State makes the Sweet 16 in 2021, 2022 or 2023

Two years:

▪  if N.C. State goes to the Final Four

▪  if N.C. State wins the ACC regular-season title

▪  if N.C. State wins the ACC tournament

Joe Giglio: 919-829-8938, @jwgiglio