Hard to argue with the merit of this as NC State’s Basketball program has stabilized at more than acceptable level since Coach “Got” to Raleigh. With the age of the talent that currently resides on NC State’s roster and the exceptional recruiting class that is lining up for next season this seems to be nicely timed and well played by Debbie Yow and the NC State administration.
N.C. State basketball coach Mark Gottfried has a new five-year contract, the school announced on Friday.
The deal raises Gottfried’s annual compensation to at least $2.48 million annually through 2020.
Gottfried has a 92-52 record and has led the Wolfpack to the NCAA tournament in each of his first four seasons.
N.C. State opens the 2015-16 on Friday night against William & Mary. The contract, approved by the school’s board of trustees on Friday, replaces the one Gottfried signed in Sept. 2012 and runs through the 2019-20 season.
His annual financial package breaks down to $760,000 for his base salary and $1,725,000 in supplemental compensation.
Gottfried is only the third ACC coach to guide his first four teams to the NCAA tournament. The Wolfpack reached the Sweet 16 last year and in 2012. It had been that far in the NCAA tournament only twice in the 23 years before Gottfried was hired.
Gottfried’s previous contract would have paid him $2.1 million before bonuses this season. He has a chance to add as much as $800,000 in performance bonuses each year for an ACC title, national title, finishing ranked in the AP or USA Today polls and NCAA tournament wins.
The new contract also calls for an automatic one-year extension if N.C. State makes the NCAA tournament in 2016, ‘17, ‘18 or ‘19 and an automatic two-year extension for making the Final Four or winning the ACC tournament.
N.C. State also agreed to a new contract for women’s basketball coach Wes Moore. The third-year coach will make $460,000 annually through the 2019-2020 season.
More kudos to NC State to coordinate the release of the following video with today’s announcement: