The Arizona Board of Regents will review the amended contract extension of Arizona men’s basketball coach Tommy Lloyd on Thursday, with details revealed.
Lloyd’s proposed extension will be a five-year deal and will end on March 31, 2031. The contract was reportedly agreed upon on after Lloyd was linked to the North Carolina vacancy. The Tar Heels ended up hiring former Denver Nuggets head coach Michael Malone.
Lloyd’s total compensation for Year 1 will be $7.19 million, with small annual increases to reach $7.81 million by Year 5. That’s including his base salary, compensation for additional duties and compensation from Arizona Sports Enterprises.
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As part of the contract extension, Lloyd will have no less than $2.9 million in staff salary money per season.
The contract will also include academic and athletic performance incentives. Academically, Lloyd could earn contract incentives if his team hits certain cumulative GPA goals. These include:
$175,000 for 3.00-3.29 GPA $225,000 for a 3.30-3.68 GPA $250,000 for a 3.69 or above GPALloyd can also earn incentives based on how far the team advances in the NCAA Tournament each season. This includes the following:
$25,000 for reaching the Round of 32 $50,000 for reaching the Sweet 16 $500,000 for reaching the Final Four $1,000,000 for winning the NCAA championshipAdditional benefits of Lloyd’s contract include 20 men’s basketball season tickets, 8 Sand Club seats for each Arizona football home game and 50 hours of non-commercial air travel from May 1 to April 30 that can be used for recruiting and other authorized activities related to the basketball program.
Tommy Lloyd’s Arizona contract buyouts revealed
If Lloyd is fired without cause, Arizona will owe Lloyd 100% of his remaining salary, including any partial contract year.
If Lloyd accepts another men’s basketball head coaching job, buyouts would include the following:
$12 million after Year 1 $10 million after Year 2 $8 million after Year 3 $5 million after Year 4Lloyd’s previous contract included a clause that prevented him from coaching another Big 12 team for the duration of the deal. That has been replaced by a $1 million increase to the buyout.
Along with Lloyd’s contract proposal, the Board of Regents will also review the contract proposed by Arizona State for new men’s basketball coach Randy Bennett on Thursday.
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