What Ben McCollum’s contract with Iowa means for college basketball, NBA coaching future

Per USA Today Sports, this deal comes with a $4 million buyout if he leaves before April 1, 2027, with the number dropping by $1 million in each consecutive year. This means that, by 2031, the buyout will be gone.

If Iowa chooses to fire McCollum without cause at any point, he is owed 80% of his remaining contract through the first three years and 60% for the final three years.

He also has a series of incentives baked into the original deal. Here are some of the bonuses, according to the Des Moines Register.

Regular season

$75,000 Big Ten regular season champions or co-champions
$50,000 Big Ten Tournament championship win

NCAA Tournament

$50,000 for NCAA Tournament Invitation or First Four Win
$75,000 for NCAA Tournament to advance to Round of 32
$100,000 for NCAA Tournament to advance to Sweet 16
$150,000 for NCAA Tournament advance to Elite 8
$200,000 for NCAA Tournament to advance to Final Four
$300,000 for NCAA Tournament to advance to National Championship
$400,000 for NCAA Tournament Championship win

Academics

$25,000 if the APR is greater than or equal to 940

$50,000 if the APR is greater than or equal to 960
$75,000 if the APR is greater than or equal to 980

Coach of the Year

$50,000 for National Coach of the Year
$25,000 for Big Ten Coach of the Year

MORE: How did Iowa use the transfer portal to build Elite 8 roster?

What Ben McCollum's contract means for coaching future?

When a coach signs a six-year extension, it's not particularly common to see this deal shake up just one year later. But it's also not common to see a new coach lead a No. 9 seed to the Elite 8 in his first season with the team.

With teams at the NBA and college levels clamoring for a guy with McCollum's capabilities, Iowa likely felt uncertain. They needed to keep someone like McCollum around after their first Elite 8 trip in 39 years.

The result is a brand-new, reworked, six-year contract for the Iowa City native, who returned home to coach in the city where he grew up.

MORE: How did Bennett Stirtz go from Northwest Missouri State to Iowa?