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Iowa State University Athletics
Iowa State Big 12 Coach of the Year Larry Eustachy Signs 10-Year Contract
03.13.2000 | Men's Basketball
AMES, Iowa -- Big 12 Conference Men's Basketball Coach of the Year Larry Eustachy, who has led Iowa State to a school-record 29 wins, the school's first league championship in 55 years and an unprecedented No. 2 seed in this week's NCAA Tournament, has signed a contract that could net the Cyclone head coach $900,000 annually during its 10-year duration. Eustachy, a national coach of the year candidate, will receive a state base salary of $160,000. The ISU Foundation contract portion of the agreement calls for $640,000 annually in camps, endorsements, TV and radio show revenue and shoe contract revenue. The contract runs through June 30, 2010. It includes a trio of $300,000 bonuses to be collected by the second-year ISU coach if he is still coaching at Iowa State on July 1 of 2003, 2006 and 2009 and a $100,000 bonus if he is still the Cyclone head coach when the contract expires. The new contract includes a incentive package that rewards Eustachy for his team's advancement in the NCAA Tournament.
"Larry's coaching achievements at Iowa State are truly unprecedented," ISU athletic director Gene Smith said. "We want to recognize what Larry has done, the respect he has garnered for Iowa State nationally and the interest he has and will receive from some of the nation's best programs, which are looking for someone just like him to lead their basketball team. We initiated this change and are confident that he will be at Iowa State for years to come."
Under Eustachy's former contract, the Cyclone head coach received an annual state base salary of $145,180 and an ISU Foundation contract of $360,000. That contract, signed October 28, 1998, was to run through July 31, 2003.
Paced by Big 12 Conference Player of the Year Marcus Fizer and league newcomer of the Jamaal Tinsley, Iowa State is 29-4 this season and ranked seventh nationally on the latest poll from The Associated Press. Eustachy has now earned three conference coach of the year awards in the last three seasons. He owns a 203-105 record in 10 years as a college coach, including previous stops at Idaho and Utah State. Iowa State finished the Big 12 regular season with a record 14-2 mark en route to sole possession of first place in the league.
Players Mentioned
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