Taking a look inside Turgeon’s extension
Actual value of deal is roughly $17M
After weeks of uncertainty, Maryland and men’s basketball coach Mark Turgeon officially have a new deal.
Turgeon, who had two years remaining on his previous contract, signed a three-year extension through 2025-26, the school announced Wednesday night. It’s the 56-year-old’s second extension with the Terps after he originally signed an eight-year deal in 2011 to succeed Hall of Fame coach Gary Williams.
According to a copy of the contract obtained by The Baltimore Sun through a public records request, Turgeon will receive an annual base salary of $750,000 — but the actual value of the deal is worth roughly $17
million over the next five years.
Supplemental income
In addition to Turgeon’s base salary, he also will receive “supplemental annual income” for fulfilling apparel contracts and making television, radio, promotional and fundraising appearances.
That includes $2.57 million for the first contract year (May 1, 2021-April 30, 2022), with an additional $100,000 added to that total each year until the deal expires April 30, 2026.
Turgeon will make $3.3 million in the first year of the contract, and stands to earn $3.8 million in the final year of the deal.
Incentives
Turgeon can earn up to $545,000 per year in performance incentives. In addition, certain incentives will also trigger a contract extension, although the length of the deal cannot extend more than six years. Those benchmarks include:
Winning the Big Ten regular-season title: $75,000 (outright) or $50,000 (tie) and one-year extension
Winning the Big Ten tournament championship: $75,000 and one-year extension
Earning an NCAA tournament bid: $25,000
Being named Big Ten Coach of the Year, as voted by coaches or media: $50,000
Being named National Coach of the Year, as voted by sports writers, AP, or Naismith: $40,000
Turgeon also could receive noncumulative compensation based on the Terps’ performance in the NCAA tournament:
Sweet 16 appearance: $75,000 and one-year extension
Elite Eight appearance: $150,000 and two-year extension
Final Four appearance: $200,000 and contract extended to six years
National champion: $250,000