Bruce Pearl won’t be leaving Auburn anytime soon.
The Tigers’ basketball coach on Friday agreed to a 5-year extension that yields a big bump in pay and a massive buyout. He will earn $3.8 million per year beginning with the 2019-20 season with automatic escalators that yield a $125,000 raise each season. The contract is worth $19,625,000 in all.
Pearl earned just $2.6 million during the 2018-19 season.
The agreement also includes a $500,000 bump in salary pool money, which Pearl may distribute to his assistants at his discretion.
“I would like to thank President (Steven) Leath, Allen Greene and the Board of Trustees for their belief. The investment in me and my staff demonstrates their support of the men’s basketball program moving forward,” Pearl said in a statement. “I’m grateful to my coaching and support staff for building a competitive men’s basketball program. I’m grateful to our players for buying in, working extremely hard and representing what being an Auburn man and student-athlete is all about. We have the best fan base in America. The Auburn Family is for real and, along with The Jungle, create a unique gameday atmosphere. It’s great to be an Auburn Tiger.”
If Pearl leaves before June 30, 2020, he’ll owe the university $8 million. The buyout will decrease by $2 million each summer.