Fresh off a run to the Final Four, Auburn is rewarding basketball coach Bruce Pearl with a new five-year contract that will run through the 2023-24 season, director of athletics Allen Greene announced in a news release on Friday.
He will be paid $3.8 million per year, with it escalating $125,000 per year after the 2019-20 season, an Auburn spokesperson said. The university and Pearl also agreed to a buyout structure that begins at $8 million the first year and decreases $2 million every year after that.
Pearl was about to enter the fifth year of a previous six-year contract which would have paid him $2.7 million.
In Pearl's five seasons at Auburn, the Tigers have gone 100-72 and reached back-to-back NCAA tournaments. Last season, they finished tied for first in the SEC.
Pearl's program hasn't been without blemishes, however, as his former assistant Chuck Person was arrested in 2017 as part of the FBI's investigation into corruption in college basketball. Last month, Auburn placed assistant Ira Bowman on administrative leave as it investigated a bribery scandal during his time at Penn.
"Under Bruce's leadership, our basketball program has reached new heights," Greene said in the statement. "Our young men continue to thrive in the classroom and on the court. We've experienced many firsts, including a well-documented run to the Final Four and a pair of SEC titles. Bruce and his wife Brandy have been very active within the university and the Auburn community and we are appreciative of all of their efforts. Our return on investment is undeniable, and supporting this program from A-to-Z will continue to be a priority. Simply stated, we look forward to having Bruce as the head coach of our basketball program for many years to come."