Per Larry Lage on Twitter, Beilein signs contract extension

Submitted by Wave83 on

Per Larry Lage from AP, via Twitter:

 

#Michigan has signed Beilein to a 3-year extension to keep him under contract thru 2018-19 for $2.45 million in total compensation per year

LSAClassOf2000

July 17th, 2013 at 11:59 AM ^

To see where $2.45 million per year would fit in, here's the USA Today Database for coaches' salaries. If I am looking at this right, he is now the 4th-highest paid coach in the Big Ten (with only Izzo, Crean and Matta making more) and just cracked the Top 10 overall in Division I. Even better, John Beilein is worth every single penny. 

I still remember at his very first press conference in Ann Arbor, he said something like, "If you see my paycheck, there ought to be pressure." Well, you've handled it beautifully, Coach, and taken this team to places it hasn't been in a while. This is excellent news. 

 

Koyote

July 17th, 2013 at 1:51 PM ^

Honestly, i'm surprised it isn't a bit higher. 

I'm not saying he should have gotten the same money as Izzo, Crean, or Matta, but with the amazing job he has done with our program, i figured at least in the 3 mil range. Still, heck of a job Beiliein. I will echo that he is worth every penny!

Raoul

July 17th, 2013 at 12:09 PM ^

Great news. Well-deserved raise.

From the mgoblue.com release:

"I am very excited to have this opportunity to coach at the University of Michigan for at least five more years," said Beilein. "I am grateful that President Coleman and Dave Brandon are pleased with the direction of our program and have extended this offer of agreement. My staff and I will continue to work every day with our student-athletes to ensure they grow from this incredible educational opportunity. At the same time, competing for Big Ten championship will be the goal each and every year.

"Kathleen and our entire family love being a part of the Michigan community and feel honored and blessed to continue to be able to represent this great university," added Beilein.

"John is a tremendous ambassador of the University of Michigan and one of the most highly respected coaches in the country," said Brandon. "He recruits outstanding young men to represent the men's basketball program and develops them as players, students and future leaders. John has built a program that will compete for Big Ten championships on a regular basis and make exciting NCAA Tournament runs. We look forward to John, Kathleen and the entire Beilein family representing the University of Michigan for the foreseeable future."

Butterfield

July 17th, 2013 at 12:14 PM ^

Any word on whether the assistants got extensions or pay bumps?  Those guys are equally deserving, hopefully they get some financial reward for their committment. 

get-on-my-lawn

July 17th, 2013 at 12:44 PM ^

Only a 5 year deal. This may be pointing to the fact that Beilein may be hanging it up within the next 5-10 years. I could be totally wrong. But we can all agree that there's no doubt he will retire the Mich coach and DB even said they'll offer him as long as he'd like. So since it's just 5 yeats, does that mean something?

MichiganG

July 17th, 2013 at 1:30 PM ^

Obviously well deserved, but most exciting because there had been some thoughts he wouldn't extend and would retire at the end of the current deal.  This seems to suggest otherwise, which is great news.

dc22

July 17th, 2013 at 2:48 PM ^

Great move by all concerned. The fit between Coach B and Michigan is as good as any that I can think of in college sports.

Blueroller

July 17th, 2013 at 4:13 PM ^

The fit between Hoke and Michigan is up there too. I've been around since the early 70s and the football and basketball programs combined have never been in better hands. You have to go back to Bo and Johnny Orr, and Orr didn't get anywhere near the support Beilein has.

Even more remarkable is that Hoke and Beilein are both in their destination jobs. Even if Hoke were to win a couple of national championships, I can't see him leaving for the NFL. All he has to do is run the program as well as he has so far and win enough games. This kind of coaching stability is uncommon these days. We are lucky to have it.

DirkMcGurk

July 17th, 2013 at 6:16 PM ^

I thought the all knowing fans thought he should be fired? Must be more of DB trying to stick it to us since there won't be any uniformz this year