Iowa basketball coach Ben McCollum agrees to 6-year contract with starting pay of $3.35M

Iowa men's basketball coach Ben McCollum agreed to a six-year, $22.75 million contract that runs through the 2030-31 season, according to the memorandum of understanding he signed last month.

The document, obtained Friday through an Associated Press public records request, outlines a pay package that lists McCollum's base salary at $500,000 each year with supplemental pay that increases annually. His formal contract was not available for release, the university said.

McCollum will earn $3.35 million in his first year, with his compensation rising to $4.1 million in the sixth year.

McCollum would be in line for six-figure bonuses if the Hawkeyes reach the NCAA Sweet 16, topped by $400,000 for winning the national championship. A Big Ten regular-season title would earn him $75,000 and a conference tournament championship $50,000. Additional bonuses are tied to his players' academic performance.

He will have a salary pool of about $2.1 million for assistant coaches.

McCollum, whose hiring was announced March 24, led Drake to the Missouri Valley Conference regular-season and tournament championships and a win in the NCAA Tournament in his only season with the Bulldogs.

Athletic director Beth Goetz announced McCollum’s hiring 10 days after she fired Fran McCaffery and two days after McCollum wrapped up a 31-4 season with a loss to Texas Tech in the second round of the West Regional.

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AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball