HUGE DETAILS: New Louisville basketball coach Pat Kelsey Shocking Contract Details that Caused Chaos

Pat Kelsey, the new men’s basketball coach at Louisville, has signed a contract that includes salary information about his new role as head coach of the Cardinals. The 48-year-old native of Cincinnati, Kelsey, was named Louisville basketball’s 24th head coach on Thursday afternoon. Here are some salient features of Kelsey’s five-year contract with the University of Louisiana, along with a comparison with former head coach Kenny Payne’s contract, which lasted only two seasons despite Payne supervising a terrible on-court performance.
LOUISVILLE BASKETBALL COACH PAT KELSEY’S CONTRACT DETAILS Kelsey’s contract with Louisville states that he will receive $2.3 million for the 2024–2025, 2025–2026, 2026–2027, 2027–2028, and 2028–2029 seasons. In addition to this yearly salary, Kelsey, who has previously guided Winthrop and Charleston to two NCAA Tournament appearances apiece, is eligible for multiple one-time bonuses. Kelly’s record in NCAA Tournament games is 0–4.

One million dollars was his buyout to leave Charleston, according to the Charleston Post and Courier.) Obtaining the title of conference coach of the year ($25,000) is one of these one-time prizes. ▪ Winning the $50,000 National Association of Basketball Coaches, Associated Press, or Naismith National Coach of the Year award. ▪ Winning or sharing the ACC regular-season championship ($50,000). ▪ Taking home the $50,000 ACC Tournament championship. Additionally, Kelsey’s term sheet mentions multiple one-time bonuses associated with the NCAA Tournament. There is no cap on these March Madness bonuses. ◪ Making it to the NCAA Tournament as an at-large pick ($50,000). ▪ Making it to the NCAA Tournament’s round of 32 ($100,000). ▪ Making it to the NCAA Tournament Sweet 16 ($150,000). ▪ Making it to the NCAA Tournament’s Elite Eight ($200,000). ▪ Making it to the NCAA Tournament Final Four ($250,000). ▪ Earning the $50,000 national championship. His contract will automatically extend through the 2029–30 season at the same salary of $2.3 million if the Cardinals participate in any of the 2025, 2026, or 2027 NCAA Tournaments under Kelsey, according to the terms sheet. Although Kelsey joked on Thursday that he isn’t good at golf, the term sheet lists additional benefits for Kelsey, including up to $50,000 in moving expenses, a family membership at the University of Louisville Golf Club, use of a suite at the KFC Yum Center for all men’s basketball games, and eight season tickets to all Louisville football and men’s and women’s basketball games. The term sheet also contains information regarding Kelsey and the school’s possible future split. United of Louisville would owe Kelsey 95% of the “remaining guaranteed compensation subject to mitigation and offsets” if Louisville terminated Kelsey’s contract without reason, which might include NCAA infractions or an action beyond wins and losses.

Kelsey’s contract would require her to pay this amount throughout the remaining duration. Conversely, Kelsey will pay the institution ninety days’ worth of guaranteed income as part of his buyout to depart Louisville for a different job.
Compared to Kenny Paynes’s Louisiana contract, how does Pat Kelsey’s differ? Kelsey’s contract with Louisville is substantially smaller than that of his predecessor at the University of Louisiana by almost any metric. In March 2022, Payne agreed to a six-year contract worth incentives, with a salary of $3.35 million annually, to take over as coach of the Cardinals. In the event that Louisville terminated Payne’s contract in Year 2 without cause, as happened, that deal said that Payne would get $8 million. All told, Payne received $558,333 for each of his 12 victories at Louisville. Payne’s deal, which was designed to expire in March 2028, limited the amount of money he could have made each year to success on the court. Only if the Cardinals had advanced to the NCAA Tournament would Payne’s base pay have improved. One-time bonuses linked to trips to March Madness and tournament advancement are part of Kelsey’s contract. On Thursday, Tim Sullivan, a columnist residing in Louisville, questioned Josh Heird, the AD of Louisville, on this salary disparity: Heird stated, “I believe it was dependent on the situation, specifically on where Kenny was in relation to Pat.” We conducted our research on the pay scale for coaches who have made the transition from mid-major to Power Five, or as we like to call the “jump.” We had a list of, ostensibly, twenty to twenty-five coaches, along with an estimate of their average yearly income. Pat’s figures are exactly in line with that.

The Courier Journal reports that Louisville committed to a $4.8 million severance settlement when it parted ways with former coach Chris Mack in January 2022. The money is currently being paid to Mack in monthly increments of $133,333.33. Until January 31, 2025, Mack, for whom Kelsey served as an associate head coach at Xavier, will continue to receive these payouts.