New Gophers men’s basketball coach Niko Medved will make $3 million in the first year of his six-year deal at Minnesota with a $100,000 raise each season, according to the memorandum of understanding (MOU) obtained by the Star Tribune.
Gophers athletic director Mark Coyle and Medved both signed the MOU on Monday, and the sides have two weeks to finalize the agreement, including a background check and approval from the Board of Regents.
Before he was fired, Ben Johnson was the lowest-paid men’s basketball coach in the Big Ten this season, making $1.95 million. Medved’s new $3 million salary would have ranked 17th in the 18-team conference this season.
Other notables from the MOU:
- The Gophers will cover up to $3.1 million to buy out Medved’s contract from Colorado State.
- Medved, who made $1.7 million this season at CSU, will receive a one-year extension if the Gophers do at least one of the following in a season: make the NCAA tournament, win the Big Ten regular season or tournament title, or finish in the top four in the Big Ten.
- Salaries for Medved’s five assistant coaches will come from a pool of $2 million.
