The Times Dispatch reported today that Virginia men's basketball coach Tony Bennett will get a 5 year extension. Here's more from the Times Dispatch.
Under the agreement, which was obtained by the Times-Dispatch, Bennett will not receive a pay increase. He currently makes $1.7 million per year, and will receive a $500,000 bonus if he is still employed for the 2014 season.
The buyout fee if Bennett leaves is also rolled back to its original level under the new contract, and will decrease each year beginning in 2014. If the coach is fired, he is entitled to collect salary for the remainder of the contract.
While there is a bonus for Bennett if he hangs around through the 2014 season, I find it curious that they are giving him an extension without a raise. Bennett has done a nice job at Virginia but perhaps the reason for the "status quo" in salary is due to the early departures Bennett has seen while at Virginia.
