Ben McCollum's new Iowa basketball contract by the numbers

Ben McCollum's annual total compensation for his original contract with Iowa.

Ben McCollum's annual total compensation for his contract extension with Iowa.

The $4.35 million that McCollum is set to make in the first year of his new contract would put him in the neighborhood of 20th nationally compared to the salaries of men’s college basketball coaches last season, according to USA TODAY’s database.

McCollum’s incentives are unchanged from his old contract.

Annual incentives for Iowa men's basketball coach Ben McCollum

$5 million

This is what McCollum would owe Iowa if he were to voluntarily step down or accept another job on, or before, April 1, 2027. That $5 million figure drops each year until it reaches zero.

This is important because McCollum has the resume of someone who has been — and could continue to be — coveted on the coaching carousel.

What Ben McCollum would owe the University of Iowa if he voluntarily resigns or accepts another job.

According to CBS Sports’ Matt Norlander, North Carolina wanted to conduct an in-person interview with McCollum for its head-coaching vacancy this year, but the Iowa coach turned down the offer. UNC is widely viewed as one of the top jobs in college basketball, and the fact that McCollum didn’t even go through with a formal interview speaks to his commitment to Iowa.

Keeping McCollum in Iowa City for as long as possible should be a priority for Goetz. McCollum, who won four Division II national titles at Northwest Missouri State, is viewed as one of college basketball’s bright young minds. He made the NCAA Tournament in each of his first two seasons coaching at the Division I level, including an Elite Eight appearance.

McCollum just turned 45 years old in April.

More: Iowa basketball coach Ben McCollum signs contract extension

$2,202,500

That is the minimum annual salary pool for Iowa’s assistant coaches and other men’s basketball-specific staff members in McCollum's new contract.

The contract also states that: “The salary pool will be subject to potential annual increases based upon conference and national salary market data – as appropriate and agreed upon by Coach and Athletic Director - performance and departmental budget.”

In McCollum’s original contract, the minimum annual salary pool for Iowa’s assistant coaches and other men’s basketball-specific staff members was $2,095,000.

So his new deal makes for a $107,500 increase annually, arming McCollum with more financial resources to support his staff.

Follow Tyler Tachman on X @Tyler_T15, contact via email at TTachman@usatodayco.com

This article originally appeared on Des Moines Register: Breaking down Ben McCollum's new Iowa basketball contract