It took more than a month, but Missouri’s new men’s basketball coach, Kim Anderson, signed his contract last week and the university released the details Friday afternoon.
Anderson, 59, was hired April 28 in a special session of the University of Missouri System Board of Curators, but his contract wasn’t signed until June 3.
“We had a lot of work to be done following the press conference, and this (contract) process was pushed to the back burner because, quite frankly, it wasn’t the most pressing issue for our program as a whole,” Anderson said in a written statement accompanying the contract release. “I know a lot of folks worked to get this process complete, and I want to thank them for their efforts.”
Anderson’s contract is for five years, through April 30, 2019, and calls for a $300,000 annual base salary and a total of $1.1 million in guaranteed pay in the first year of the contract.
“We are excited about the future of our men’s basketball program at Mizzou,” athletic director Mike Alden said in the release. “Kim is doing a terrific job already in his first two months with the Tigers.”
Beyond his base salary, Anderson will receive $173,000 this season in lieu of a contract with an athletic shoe or apparel company, $173,000 for television appearances, $173,000 for radio duties and $173,000 for appearances with alumni groups and at booster functions.
Each of those contract elements includes a $21,600 raise after each season if the Tigers win at least 20 games and reach the NCAA Tournament.
Anderson also will receive $108,000 every summer that he conducts a youth basketball camp. That figure increases by $13,600 each season that Missouri wins 20 games or more and reaches the NCAA Tournament.
But Anderson’s financial take could be far greater than $1.1 million per season.
He will receive $100,000 in deferred compensation annually, which will be deposited in a university-controlled fund that he can withdraw from after April 30, 2019.
He also is entitled to $200,000 each season that Missouri’s basketball program achieves academic goals set forth by chancellor R. Bowen Loftin and the faculty athletics representative and can receive $75,000 for meeting stated “aspirational goals” that go beyond those core academic aims.
Anderson also will get an annual membership at The Club at Old Hawthorne and two courtesy cars plus moving expenses as part of an incentive-laden contract.
Among the contracted incentives:
$50,000 for winning a Southeastern Conference regular-season championship.
$50,000 for an SEC Tournament championship.
$50,000 for reaching the NCAA Tournament.
$100,000 for reaching the Sweet 16, $150,000 for reaching the Final Four or $400,000 for winning a NCAA championship.
$50,000 for being chosen SEC coach of the year by the conference.
$100,000 for being chosen coach of the year by the National Association of Basketball Coaches or The Associated Press.
$60,000 for 25 wins against Division I opponents or $100,000 for 30 wins.
$30,000 for 12 regular-season conference wins, $60,000 for 13 wins or $75,000 for 14 or more wins.
$50,000 if the ticket receipts for home games tops $4.7 million or $100,000 if ticket sales top $5 million. Missouri reported $5.15 million in men’s basketball ticket sales to the NCAA for the 2012-13 financial year.
If Anderson hits each incentive, his contract could be worth as much as $2.45 million, including the deferred money, in the first season.
Finally, Anderson’s contract includes $900,000 annually to pay his six-person staff, which includes three assistant coaches, a director of basketball operations, a strength and conditioning coach, and a director of video operations.