Virginia, Tony Bennett rework contract

The University of Virginia and head men’s basketball coach Tony Bennett have reworked Bennett’s contract. Doug Doughty of the Roanoke Times reported the agreement.

The new contract comes on the heels of a seven-year extension Bennett inked last year. The terms of that deal were that Bennett would be paid a grand total of $1.9 million in both base salary and “supplemental compensation.”

The new terms give Bennett a bit more, as he now has a base salary of $400,000 and $1.7 million in supplemental incentives. Bennett also receives a $3 million buyout if he resigns before March 15, 2018. Given how Wisconsin Badgers head coach Bo Ryan is set to retire at the end of the upcoming season and Bennett, a Wisconsin native, has been mentioned as a potential successor, he now has some extra incentive to remain in Charlottesville.

Of course, Bennett deserves every penny. In six seasons with the Cavaliers, he has gone 136-64 (64-37 ACC) with an ACC Championship and a trip to the Sweet Sixteen in 2014. Bennett is also the man responsible for in 2012 bringing Virginia to its first NCAA Tournament since 2007 and, in 2014, its first Sweet Sixteen since 1995.

Sweetening the deal is that if he is still the team’s coach on March 15, 2019, he receives a “longevity bonus” of $ 1 million, with another such bonus being awarded on the same date in 2021, albeit at $400,000.

Long story short, Bennett now has plenty of reasons to stay in Virginia and keep the team contending for a national championship for years to come.

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*Featured Photo (above) credit to USA TODAY Sports

2017’s No. 1 basketball prospect considering 7 schools
2017’s No. 1 basketball prospect considering 7 schools