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By The Sports Xchange October 30, 2012 6:20 PM
University of Louisville men's basketball coach Rick Pitino will have plenty of opportunities to improve upon last year's loss in the NCAA semifinals. The school announced Tuesday that it extended Pitino's contract through the 2021-22 season. Pitino's previous deal ran through 2017. "I don't know if I could live without basketball," Pitino said, according to the Louisville Courier-Journal. "Even broadcasting, I wouldn't have the highs and the lows, and I guess every coach lives for that." Louisville athletic director Tom Jurich said Pitino would be "cheating the game of basketball" if he had stepped away. Pitino will continue to have a $3.9 million salary -- the same as his previous rate -- in every year of the contract. However, he will be paid $600,000 "retention bonuses" every other year beginning in 2014. He'd also receive a $50,000 bonus each time the Cardinals win or tie for the conference regular-season championship, and he'd get $100,000 if he's selected the Associated Press' national coach of the year. Pitino, 60, has guided Louisville to the Final Four twice in 11 years at the school. He has a 262-99 record with the Cardinals. In a head-coaching career that dates back to 1978, Pitino has led Boston University, Providence, Kentucky and Louisville to the NCAA Tournament. He guided the Friars, Wildcats and Cardinals to Final Four appearances, and he won a national title with Kentucky in 1996. His overall college record is 629-234 over 27 seasons. Pitino also served as the New York Knicks' head coach in the 1987-88 and 1988-89 seasons, guiding the team to the NBA Eastern Conference semifinals in the latter year. He experienced an awful stretch as the Boston Celtics' head coach, general manager and team president from 1997-2001, never once getting the team into the playoffs. He had a 192-220 record in six seasons as an NBA coach. Pitino and the Cardinals open the new season Nov. 11 with a home game against Manhattan. Louisville is ranked second in the nation in the preseason AP and USA Today coaches polls.