John Calipari buyout would set record. What to know about his Kentucky basketball contract

After suffering another NCAA men's tournament loss to a mid-major school with a double-digit seed, Kentucky coach John Calipari's future with the program is uncertain. Since UK's season-ending, 80-76 defeat to Oakland — a 14-seed from the Horizon League — athletics director Mitch Barnhart has not issued any clarity on Calipari's status.

Still, there are many in Kentucky's fervent fan base ready to cut ties with Calipari, who wrapped up his 15th season on the job. The loss marked the third consecutive March Madness appearance for the Wildcats that ended in the opening weekend, following a first-round loss to 15-seed Saint Peter's in 2022 and a second-round setback to Kansas State last season.

If Kentucky wants to get rid of Calipari, it will have to pony up: His buyout would be a record-setting sum for a men's basketball coach.

With varying numbers being reported regarding Calipari's contract — especially his buyout — here's a breakdown of the need-to-know figures of Kentucky's longtime coach:

What would Kentucky owe John Calipari if it fires him without cause?

Calipari would be owed a buyout of $34,968,749 as of April 1 if he is fired without cause, according to USA TODAY Sports’ coaching salary database. Kentucky and Calipari agreed on a new contract in 2019, one day after the team's Elite Eight loss to Auburn. The new agreement ends June 30, 2029.

Is there offset language in John Calipari's contract? Or would Kentucky be on the hook for all of the buyout?

Per the contract, if Calipari is dismissed, he "agrees to mitigate" the buyout owed by making "reasonable efforts to obtain employment." Potential jobs outlined include "a head or assistant coaching position or administrative position at an NCAA Division I college or university or with a professional sports team."

If Calipari accepts another coaching position, his minimum guaranteed annual salary or "the reasonable market value" of his new job — whichever is greater — would offset how much of the buyout Kentucky must pay.

But, much like another SEC legend who recently retired — former Alabama football coach Nick Saban — to go into the television industry, it often has been speculated the extroverted Calipari could become an analyst. Whether his salary with a TV network would offset his buyout is unclear.

What would be the pay schedule and frequency for John Calipari's buyout with Kentucky?

Per the terms of his contract, Calipari would not receive any of his buyout in a lump-sum payment. Instead, it would be paid in monthly installments over the remainder of the contract.

If Kentucky and John Calipari part ways, how would the buyout compare to other men's basketball coaches'?

Should Calipari move on, his buyout figure would set a record.

And more than double the previous high-water mark for a men's basketball coach.

When Wake Forest fired Danny Manning in 2021, it gave the former Kansas star a buyout payment of nearly $14.7 million, according to USA TODAY Sports. It's the largest buyout sum any men's basketball coach has received since USA TODAY Sports began tracking buyout data in 2017.

If Kentucky and John Calipari split, how would the buyout compare to other college sports coaches'?

While Calipari's buyout would be unprecedented for a men's basketball coach, it isn't even half as much as what Texas A&M gave former football coach Jimbo Fisher on his way out the door.

Fisher received a staggering $77 million buyout — with no offset if he took a new job — from Texas A&M after his dismissal last November.

Prior to that, the largest known college sports buyout was Auburn's payment of $21.45 million to football coach Gus Malzahn after his firing in 2020. The Montgomery Advertiser reported Malzahn's buyout did not include an offset, and half of the total ($10.275) was due within 30 days of his termination, with the rest being paid in equal, annual installments of approximately $2.68 million in the subsequent four years.

What is John Calipari's pay at Kentucky?

Calipari is scheduled to be paid $8.5 million by the school for this season, per USA TODAY Sports’ coaching salary database.

In pay from their respective universities, he ranks No. 2 nationally among all basketball coaches, trailing Kansas' Bill Self (more than $9.4 million). Calipari is making nearly $3 million more than the next-highest paid coach in the SEC; Tennessee's Rick Barnes is making $5.7 million.

What if John Calipari chooses to retire now?

After June 30, 2024, Calipari's contract gives him the option to step down as coach and immediately transition into a role as a "special AD assistant" at Kentucky. In this position, he would serve as an athletics department ambassador, making $950,000 a year through the remainder of the contract.

If Calipari decides to retire prior to June 30, it is hard to imagine a scenario in which Kentucky would not honor the arrangement.

What is John Calipari's record at Kentucky?

Earlier this season, Calipari became just the second coach in Kentucky history, and only the fourth in SEC annals, to win 400 games at one school, joining Adolph Rupp (876 wins at UK), Billy Donovan (467 at Florida) and Dale Brown (448 at LSU). Calipari is 410-123 (.769) overall with the Wildcats.

He's made the NCAA Tournament 12 times in 15 seasons at Kentucky, owning a 32-11 record in the event. His 32 tournament victories are a program record, two more than Rupp (30-18). Calipari won the national championship in 2012, took runner-up honors in 2014 and has reached the Final Four on two other occasions (2011 and 2015). He also has six SEC Tournament titles and captured the league's regular-season championship six times (sharing it once; Texas A&M in 2015-16).

But since signing his new contract in 2019, it's been a struggle.

In 2020-21, Kentucky went 9-16, the worst record in modern program history and the first time it didn't notch at least 10 wins since the 1926-27 Wildcats went 3-13.

Postseason tournaments haven't been much better for Calipari's club recently.

In the SEC and NCAA tournaments since 2021, Calipari is 2-6, losing his opening game in those events four times. The Wildcats are 1-4 in their past five games in the Big Dance, equaling the worst stretch in program history.

This article originally appeared on Louisville Courier Journal: John Calipari contract: Kentucky coach's record buyout details