Nick Mingione Contract Extension Details

[Comebakatz3]

I had been looking here regularly to see when this would pop up, but forgot about it and it was brought to my attention that it has now been published:

https://www.uky.edu/legal/sites/www.uky.edu.legal/files/Mingione%20Amended%20and%20Restated%202020%20w%20attachments.pdf

Highlights:

Ends in June 30, 2025. So, this was signed in 2021, but the term starts in 2020.
An automatic 1 year extension for every NCAA tournament appearance.

Base pay of $400,000 per year + $175,000 in media and endorsements.

It appears that there is a buyout clause if there is termination without cause:

Prior to June 30 2021: Salary for the remainder of the contract year and 50% of salary for 3 additional years, through June 2024.
Between July 1, 2021 & June 30, 2022: Salary for remainder of contract year and 75% of salary through June 2024.
Between July 1, 2022 & June 30, 2023: 100% of salary for remainder of then current and next contract year through June 2024.

So, it sounds like we likely have him for another 2 years. If they terminate him after June 2023 then there is no penalty to UK. Prior to then, there is some heavier punishments for firing him without cause.

 

[dtjr]

I wonder how that compares to other SEC coaches.

 

[167Hike]

Yes, unless we finish dead last in the SEC this year with 6 or fewer conference wins ( which is a possibility) we will have him for this year and next.

It will be interesting if we get to the end of next year and he has not made an NCAA tournament (to get that automatic contract extension) but has shown improvement in each of these two years (example of finishing 10th this year and 8th next year). That puts us right back in the pickle we are today, possible extending a contract for recruiting purposes only.

 

[Comebakatz3]

The money is an extension of what he was making this year. It was originally prorated per year. So, for instance, he currently makes $175,000 in media deals, but his first few years he was only making $75,000. I believe his base started at $300,000 and finally got to $400,000 after a couple years. So, he isn't making any more money than he was, but he's not making any less.

There are also built in bonuses such as 25k for making the NCAA tournament and up to $200k for winning the CWS.