Jerome Tang agrees to contract extension with K-State
MANHATTAN, Kan. (KCTV) - The Kansas State Wildcats have agreed to terms with head men’s basketball coach Jerome Tang on a new contract.
K-State announced that Tang agreed to a new seven-year contract extension that runs through the 2029-30 basketball season. The new deal replaces his original six-year deal that Tang agreed to in March 2022.
Tang will be paid $3 million in 2023-24 and will receive a $100,000 increase to his salary in each remaining year of his contract. That culminates in a $3.6 million base salary in the 2029-30 season.
“What Coach Tang and his staff did in their first year here was phenomenal,” athletic director Gene Taylor said in a statement announcing the new deal Monday. “The run to the Elite Eight was remarkable, but what separates Coach Tang is his pure love of his players and the relationships that he builds with everyone that he encounters.”
Tang and the Wildcats fell short of a Final Four appearance during his first year, losing to Florida Atlantic in the East Region’s Elite Eight round.
“My family and I could not be more excited about the future with this commitment from President (Richard) Linton and Gene,” Tang said, “as the staff and I continue to elevate this program to even greater heights. I say it all the time and I truly mean it, we’re fortunate every day to be at such a special place.”
The new deal includes clauses for multiple bonuses. Those bonuses include:
- $15,000 for 20-25 wins OR $25,000 for 25+ wins
- $25,000 for Top 25 ranking in final AP or USA TODAY poll OR $50,000 for Top 10 ranking in final poll
- $25,000 for NCAA Tournament bid
- $50,000 for reaching NCAA Round of 32
- $75,000 for reaching NCAA Tournament Sweet Sixteen
- $200,000 for reaching NCAA Tournament Elite Eight
- $400,000 for reaching NCAA Tournament Final Four
- $600,000 for winning the NCAA National Championship
- $50,000 for regular season conference championship
- $50,000 for tournament conference championship
- $25,000 if named conference coach of the year
- $50,000 if named NABC or AP Men’s Basketball Coach of the Year
According to Tang’s contract, if the NCAA determines a major violation occurred and wins or records are vacated, all bonuses paid for the impacted seasons would be forfeited.
If Tang were to resign or leave for another job, his early termination agreement begins at $6 million and decreases by $1 million annually on May 1 each year through the end of the contract. However, if K-State decides to fire Tang without cause, he would be owed $15.075 million until May 1, 2025. At that point, the buyout decreases by $2.33 million and continues to decrease by amounts ranging from $2.4 million to $1.7 million throughout the remainder of the agreement.
“I said before I didn’t come here to rebuild but to elevate and the work has already begun,” Tang said. “Last year’s success was just the start. The staff and I are excited about what’s ahead for this team as we start practice. EMAW!”
You can read Tang’s full employment contract here.
Copyright 2023 KCTV. All rights reserved.